JAMB Accounting Past Questions & Answers - Page 152

756.

Which of the following accounts for the highest revenue to Nigeria?

A.

Import duties

B.

Personal income tax

C.

Petroleum income tax

D.

Company tax

Correct answer is C

No explanation has been provided for this answer.

757.

The fund in which all government receipt are paid is?

A.

Consolidated revenue fund

B.

Development fund

C.

Trust fund

D.

Contingency fund

Correct answer is A

No explanation has been provided for this answer.

758.

The founders of a company are?

A.

Promoters

B.

Shareholders

C.

Canvassers

D.

Stakeholders

Correct answer is A

No explanation has been provided for this answer.

759.

Goodwill is determined using?

A.

Capital contribution

B.

Number of partner admitted

C.

The business and customer relations

D.

Number of active partners

Correct answer is B

No explanation has been provided for this answer.

760.

Which of the following can be used on admission of a new partnership?

A.

Revaluation account

B.

Profit account

C.

Capital account

D.

Trading account

Correct answer is A

No explanation has been provided for this answer.