JAMB Accounting Past Questions & Answers - Page 20

96.

In trial balance, income and liabilities are

A.

Credited

B.

Credited and debited respectively

C.

Debited and credited respectively

D.

Debited

Correct answer is A

No explanation has been provided for this answer.

97.

The power to appoint the Auditor General of the Federation is vested in the

A.

National Assembly

B.

Civil Service Commission

C.

Judicial Service Commission

D.

President

Correct answer is D

No explanation has been provided for this answer.

98.

The addition of prime cost, indirect cost and opening work- in-progress less the closing work-in-progress will result in cost of

A.

Goods manufactured

B.

Materials put into production

C.

Goods available for sale

D.

Goods sold

Correct answer is A

No explanation has been provided for this answer.

99.

The value of the sales ledger control account is derived from the summation of the

A.

Total creditors control account

B.

Total debtors control account

C.

All day books

D.

Both the debtors and creditors accounts

Correct answer is B

No explanation has been provided for this answer.

100.

The standing order is a payment instruction given by a

A.

Customer to a fellow customer

B.

Bank to an employee

C.

Customer to the bank

D.

Bank to the customers

Correct answer is C

No explanation has been provided for this answer.