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Question 21 Principles of Accounts | JAMB/UTME (2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000)
A
N21 000 
B
N 17 000 
C
N 15 000 
D
N 6 000 
Explanation.
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Correct Option:
B
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Question 22 Principles of Accounts | JAMB/UTME (2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000)
A
has no particular period, the trading account has 
B
does not consider the cost of goods involved, the trading account does 
C
is concerned with the cost of production, the trading account is not 
D
is not concerned with the stock of raw materials the rading account is 
Explanation.
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Correct Option:
C
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Question 23 Principles of Accounts | JAMB/UTME (2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000)
A
all income and expenditure during a period 
B
revenue income and expenditure during a period 
C
receipts and payments during a period 
D
the trading income a period 
Explanation.
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Correct Option:
B
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Question 24 Principles of Accounts | JAMB/UTME (2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000)
A
N 15 050 
B
N 14 550 
C
N14 300 
D
N 13 400 
Explanation.
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Correct Option:
C
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Question 26 Principles of Accounts | JAMB/UTME (2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000)
A
borne by all the partners 
B
borne by the insolvent partner 
C
written off 
D
borne by the solvent partners 
Explanation.
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Correct Option:
A
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Question 27 Principles of Accounts | JAMB/UTME (2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000)
A
N 1 000 000 
B
N 500 000 
C
N 50 000 
D
N 25 000 
Explanation.
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Correct Option:
D
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Question 28 Principles of Accounts | JAMB/UTME (2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000)
A
N 500 000 
B
N 50 000 
C
N200 
D
N 20 
Explanation.
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Correct Option:
D
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