JAMB Accounting Past Questions & Answers - Page 156

776.

Calculate the net profit?

A.

N1,620

B.

N1,920

C.

N1,420

D.

N2,120

Correct answer is C

No explanation has been provided for this answer.

778.

The control accounting can be used in?

A.

Recording all the business transactions of the enterprise

B.

Keeping records of all direct deposit in the bank account

C.

Monitoring the books of original entry

D.

Monitoring the efficiency of bookkeeping by accountants

Correct answer is D

No explanation has been provided for this answer.

779.

A typical example of a real account is?

A.

Prepayment

B.

Expenses

C.

Plant

D.

Income

Correct answer is C

No explanation has been provided for this answer.

780.

What is the value of stock as at the end of July 10 using FIFO?

A.

N14,400

B.

N13,300

C.

N15,200

D.

N12,600

Correct answer is B

No explanation has been provided for this answer.