Explore Free Joint Admission and Matriculation Board, JAMB Principles of Accounts Questions and answers. There is CBT Accounting for candidates indicated interest on the subject during the UTME Registration. Make good use of this Objectives Questions and answers, likely JAMB Expo/runs for Principles of Accounts and how to answer JAMB Questions without stress.
This article will is out to guide candidates for the Ongoing Unified Tertiary Matriculation Examination, UTME Principles of Accounts (Financial Accounting) exams. We equally provide candidates with JAMB Principles of Accounts Past Questions and answers for practice. The latest news on Today’s CBT exams will be made available for all interested candidates.
The latest updates on answers for JAMB will be made available here for all batches. Read more below for Principles of Accounts UTME Solutions to questions and PDF Download.
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Table of Contents
Sample UTME Principles of Accounts 2024 Objectives Questions and answers PDF
Carefully read and understand the Principles of Accounts Questions and answers for JAMB UTME and how to answer questions successfully:
Principles of Accounts Past Questions
1. The ultimate control of a company is determine by one of the following ?
- A. management
- B. employees
- C. shareholders
- D. board of directors
Answer: C (shareholders)
2. Which of the following is not an advantage of control account?
- A. difficulty in committing fraud
- B. helps in locating errors
- C. helps to determine profit and loss
- D. it can be used to detect missing figure
Answer: A (difficulty in committing fraud)
3. In company account, dividend payments are effected in which of the following accounts?
- A. capital
- B. current
- C. appropriation
- D. realization
Answer: C (appropriation)
4. The Accounting term used to describe a partnership firm that stops operation and disposes its assets is
- A. Realization
- B. Revaluation
- C. Amortization
- D. Dissolution
Answer: D (Dissolution)
5. Which of the following expenses is *not* apportined in proportion to turnover?
- A. rent
- B. carriage outwards
- C. discount allowed
- D. commission
Answer: A (rent)
6. The short term solvency of a company is determined with ——- ratio
- A. debt to equity
- B. gross profit margin
- C. acid test
- D. current
Answer: D (current)
7. Shares are said to be authorized when they are
- A. subscribed
- B. called up
- C. offered for sale
- D. paid -up
Answer: C (offered for sale)
8. Current assets are shown in the balance sheet in order of performance as
- A. debtors, stock, cash and bank
- B. stock, debtors, bank and cash
- C. stock, bank, debtors and cash
- D. debtors, stock, bank and cash
Answer: B (stock, debtors, bank and cash)
9. The document issued by a revenue collector as evidence of payment to a government ministry is a
- A. receipt voucher card
- B. payment voucher
- C. treasury receipt
- D. stores receipt voucher
Answer: A (receipt voucher card)
10. The document which is legal charter of a company that defines the limits of a company’s field of operation is known as
- A. prospectus
- B. equity share certificate
- C. articles of association
- D. memorandum of association
Answer: D (memorandum of association)
How to Answer JAMB Principles of Accounts Questions 2024
The following are very useful while attempting questions during JAMB UTME:
- Login to your computer appropriately without wasting time
- Call the attention of the invigilators where need arises
- Check and note the time allotted to a particular subject
- Careful read the instructions provided on the screen
- Read and answer the questions accordingly
- Make sure you read the questions at least three times before chosing your option
- Manage the time we’ll
- Do not bypass any question
- All finish and submit at least 3 minutes to the allotted time.
Do you find the guidelines above useful? The latest updates on the JAMB Financial Accounting (Principles of Accounts) Questions and answers are important, use the comments section below for your Questions.
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