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Account JAMB Past Questions and Answers 2022

Account JAMB subject

This free online resource provides prospective students with the tools to practice JAMB past questions for the JAMB exam. With a user-friendly interface, students can access a large collection of meticulously curated multiple-choice questions and check their answers after completion.

The platform allows students to identify weaknesses and strengthen their knowledge of the subject. By practicing with these past questions, even first-time test takers can become familiar with JAMB account topics, boost confidence, and ultimately pass their exams.

The results page shows all failed and passed questions, so students can continue honing their skills. This comprehensive and free resource is the ultimate tool for JAMB candidates looking to excel in account subjects.

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Account JAMB 2022

Click START to begin. It is 40 questions.

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Category: JAMB Past Questions: Principles of Account 2022

1. The accounting convention which states that profit must not be recognized until realized while all losses should be adequately provided for it termed.

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Category: JAMB Past Questions: Principles of Account 2022

2. When preparing a bank reconciliation statement, which of the following is deducted from the balance per bank statement?

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Category: JAMB Past Questions: Principles of Account 2022

3. Beginning and ending accounts receivable balances were #8000 and #15,000 respectively. If collections from customers during the period were A36 000, then total sales in account would be…

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Category: JAMB Past Questions: Principles of Account 2022

4. Which of the following categories of labour cost will be classified as direct?

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Category: JAMB Past Questions: Principles of Account 2022

5. The receipts from a special tax levy to pay maturing interest obligation are recorded in

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Category: JAMB Past Questions: Principles of Account 2022

6. The cash basis of accounting recognises revenues when cash is received, and expenses when they are

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Category: JAMB Past Questions: Principles of Account 2022

7. The amount of individual items on a government budget is called

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Category: JAMB Past Questions: Principles of Account 2022

8. Which of the following concepts stipulates that accounting profit is the difference between revenue and expenses?

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Category: JAMB Past Questions: Principles of Account 2022

9. Given:

Motor van            —  #3,600;
Premises              —  #5,000;
Loan from R.
Nnamdi               —  #1,000;
Cash at bank       —  #1,650;
Stock of goods    — #4,800;
Creditors             —  #2,560;

Cash at hand - #250 and debtors №6,910. Calculate the capital figure.

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Category: JAMB Past Questions: Principles of Account 2022

10. Sales ledger control account contains the total amount in respect of ……

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Category: JAMB Past Questions: Principles of Account 2022

11. Which of the following ratios gives an idea of the liquidity of a firm?

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Category: JAMB Past Questions: Principles of Account 2022

12. The measure of a company's ability to pay its debts quickly is called ……

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Category: JAMB Past Questions: Principles of Account 2022

13. The document used to acknowledge the acceptance of the return of goods by the seller from buyer is known as

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Category: JAMB Past Questions: Principles of Account 2022

14. The instruments that are generated when firms enter into business transactions with others are called …

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Category: JAMB Past Questions: Principles of Account 2022

15. Erroneous rearrangement of financial figures such as writing #624 as #264 is called …

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Category: JAMB Past Questions: Principles of Account 2022

16. On the 30/5/93, Tade & Co. paid 2 years rent of #50 000 which was debited to the rent account. At 31/12/93, what portion of that amount was prepaid?

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Category: JAMB Past Questions: Principles of Account 2022

17. The process of allocating the cost of an intangible assets over its useful life is known as

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Category: JAMB Past Questions: Principles of Account 2022

18. The principal use of control accounts is to

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Category: JAMB Past Questions: Principles of Account 2022

19. The total of the creditors at the beginning of the year was #4,600 and at the end of the year #5,250. During the year, #26,500 was paid to suppliers and#130 was received in discounts from these suppliers. The purchases for the year would be

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Category: JAMB Past Questions: Principles of Account 2022

20. The Act establishing the Institute of Chartered Accountants of Nigeria (ICAN) came into force on

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Category: JAMB Past Questions: Principles of Account 2022

21. Cost reports for the intention of management should reflect…

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Category: JAMB Past Questions: Principles of Account 2022

22. Responsibility accounting is particularly concerned with?

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Category: JAMB Past Questions: Principles of Account 2022

23. An advantage of the use of the voucher system is that it…

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Category: JAMB Past Questions: Principles of Account 2022

24. When a transaction causes an assets account to increase, there is…

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Category: JAMB Past Questions: Principles of Account 2022

25. The contribution marginal on a job is the …

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Category: JAMB Past Questions: Principles of Account 2022

26. Which of the following is an intangible asset and a measure of a firm's superior earning power?

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Category: JAMB Past Questions: Principles of Account 2022

27. The price paid by an acquiring company is the…

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Category: JAMB Past Questions: Principles of Account 2022

28. The basic role of accounting is to

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Category: JAMB Past Questions: Principles of Account 2022

29. A basic unifying concept in accounting implies that

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Category: JAMB Past Questions: Principles of Account 2022

30. Lawal and Co. makes blocks and sells to builders. In computing prime cost, which of the following costs would be considered appropriate?

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Category: JAMB Past Questions: Principles of Account 2022

31. Calls in advance are treated in the balance sheet as …

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Category: JAMB Past Questions: Principles of Account 2022

32. Which of the following is an example of intangible assets?

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Category: JAMB Past Questions: Principles of Account 2022

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

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Category: JAMB Past Questions: Principles of Account 2022

34. Which of the following items does not feature in the balance sheet of a club?

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Category: JAMB Past Questions: Principles of Account 2022

35. The most appropriate basis for apportioning inventory holding cost among departments is to use the value of …

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Category: JAMB Past Questions: Principles of Account 2022

36. When a bill is negotiated to a bank, it is said be?

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Category: JAMB Past Questions: Principles of Account 2022

37. For an incomplete record to provide necessary information, it must be converted to?

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Category: JAMB Past Questions: Principles of Account 2022

38. Partners' salaries and drawings are usually posted to the?

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Category: JAMB Past Questions: Principles of Account 2022

39. The officer responsible for ascertaining whether all public expenditure and appropriation are in line with approved guidelines is the

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Category: JAMB Past Questions: Principles of Account 2022

40. In a departmental accounting system, which of the following expenses will most likely be apportioned on the basis of turnover?

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What to Bring and Avoid at the JAMB Examination Hall?

Preparing for the Joint Admissions Matriculation Board (JAMB) examination requires careful consideration of the items you bring to the exam hall. Here is a guide to help you navigate this critical aspect of your exam day:

Items to Bring:

  1. JAMB Exam Slip Copies: Carry two printed copies of your JAMB exam slip—one for yourself and one for the invigilator.
  2. Pencil/Eraser: Essential for making sketches and corrections during the exam.
  3. Cash: While not a JAMB requirement, having sufficient cash on hand is a good precaution for unforeseen circumstances.

Prohibited Items:

Candidates must strictly avoid bringing any of these items into the exam venue to prevent penalties or disqualification:

  1. Caps of Any Kind
  2. Pen/Biro
  3. Mobile Phones or Any Electronic Devices
  4. Spy Reading Glasses
  5. Calculators or Similar Electronic Devices
  6. USBs
  7. CDs
  8. Wrist Watches
  9. Books or Any Reading/Writing Materials
  10. Cameras
  11. Recorders
  12. Microphones
  13. Ear Pieces
  14. Ink/Pen Readers
  15. Smart Lenses
  16. Smart Rings/Jewelry
  17. Smart Buttons and Bluetooth Devices
  18. Hard Disks or Similar Storage Devices

Be vigilant and adhere to these guidelines to ensure a smooth and successful JAMB examination experience. Best of luck!

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