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Question 1 Principle of Accounting 2016 | JAMB/UTME (2016)
A
# 1,978 
B
# 1962 
C
# 1,522 
D
# 2,522 
Explanation.
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Correct Option:
D
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Question 2 Principle of Accounting 2016 | JAMB/UTME (2016)
A
#184, 000 
B
#196,500 
C
#212,000 
D
#168,500 
Explanation.
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Correct Option:
D
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Question 3 Principle of Accounting 2016 | JAMB/UTME (2016)
A
helps in the preparation of the balance sheet 
B
prevents fraud and theft of item of the business 
C
serves as a book of instruction to the bookkeeper 
D
help the banking industry to be efficient 
Explanation.
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Correct Option:
B
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Question 4 Principle of Accounting 2016 | JAMB/UTME (2016)
A
# 60,700 
B
#23,500 
C
#60,500 
D
#82,500 
Explanation.
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Correct Option:
C
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Question 5 Principle of Accounting 2016 | JAMB/UTME (2016)
A
business decision making 
B
due process in business 
C
motivating employees 
D
determining the work force 
Explanation.
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Correct Option:
A
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Question 6 Principle of Accounting 2016 | JAMB/UTME (2016)
A
return on capital employed 
B
gross profit margin 
C
net profit margin 
D
return on equity 
Explanation.
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Correct Option:
A
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Question 7 Principle of Accounting 2016 | JAMB/UTME (2016)
A
accounting ratios 
B
income and expenditure extract 
C
balance sheet extract 
D
found accounting 
Explanation.
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Correct Option:
A
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Question 8 Principle of Accounting 2016 | JAMB/UTME (2016)
A
accrued expenses 
B
lighting and heating 
C
salaries and wages 
D
general expenses 
Explanation.
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Correct Option:
A
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Question 9 Principle of Accounting 2016 | JAMB/UTME (2016)
A
bank statement and debit note 
B
cheque book and cashbook 
C
cheque stub and deposit slip 
D
payslip and credit invoice 
Explanation.
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Correct Option:
A
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Question 10 Principle of Accounting 2016 | JAMB/UTME (2016)
A
Accumulated depreciation 
B
Retained profit 
C
Share premium 
D
Loss on forfeited shares 
Explanation.
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Correct Option:
B
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