JAMB Accounting Past Questions & Answers - Page 153

761.

The interest on Keme's drawings is calculated as?

A.

N200

B.

N150

C.

N300

D.

N100

Correct answer is A

No explanation has been provided for this answer.

763.

The major point of agreement carried by the partnership deed is?

A.

5% interest annum on any loan

B.

An oral agreement among the partners

C.

Method of inhertance by the partners' children

D.

The profit and loss sharing ratio of the partners

Correct answer is D

No explanation has been provided for this answer.

764.

Goods invoiced to a branch can be sent using?

A.

Cost price, selling price and fixed percentage on selling price

B.

Cost price, selling price and fixed percentage on cost price

C.

Cost price and fixed percentage on cost price

D.

Cost price and fixed percentage on selling price

Correct answer is B

No explanation has been provided for this answer.

765.

The two accounts that are normally opened in the head office when goods are transferred to a branch are?

A.

Branch supplies and branch receipts

B.

Branch stock account and goods sent to branch accounts

C.

Goods sent to brannch account and branch receipt account

D.

Goods sent to branch accounts and branch supplies

Correct answer is B

No explanation has been provided for this answer.