JAMB Accounting Past Questions & Answers - Page 251

1,251.

The most convenient cash book used by a petty trader operating in an area where there is no banking facility is?

A.

Four column

B.

Three column

C.

Single column

D.

Two column

Correct answer is C

No explanation has been provided for this answer.

1,252.

A source document that aids the ascertainment of amount paid out of current account is the?

A.

Teller

B.

Cheque stub

C.

Cheque

D.

Teller stub

Correct answer is B

No explanation has been provided for this answer.

1,253.

Which of the following is an example of intangible assets?

A.

Trade debtors

B.

Stock of goods

C.

Trade creditors

D.

Motor vehicles

Correct answer is A

No explanation has been provided for this answer.

1,254.

The main objective of bookkeeping is to record economic?

A.

Transactions systematically for routine managerial decision-making

B.

Events clearly to ensure adequate checks and balances

C.

Events clearly to facilitate strategic managerial desicion-making

D.

Transaction systematically to ascertain the financial position of a business

Correct answer is D

No explanation has been provided for this answer.

1,255.

What is the gross profit margin?

A.

N100%

B.

N50%

C.

N40%

D.

N30%

Correct answer is B

No explanation has been provided for this answer.