2006 - JAMB Accounting Past Questions and Answers - page 2

After receiving the financial statement the Auditor General of the Federation must submit a report to the National Assembly within?

Gross earnings........................N950 000
Current liabilities...................N100 000
Operating expenses....................N350 000
10% debentures........................N400 000
Shareholder's fund....................N1300 000
Corporate tax is 30%

From the data above calculate the returns on equity?

Use the information below to answer questions

Turnover...........................N120 000
Net profit before tax..............N40 000
Net profit b/f.....................N68 000
Proposed dividends:
Ordinary shares....................N8 000
Preference shares..................N6 000
Corporate tax is 30%...............N10 000

The undistributed profit carried forward is?

Accrual accounting differs from cash accounting because it recognizes?

Use the information below to answer questions Turnover...........................N120 000 Net profit before tax..............N40 000 Net profit b/f.....................N68 000 Proposed dividends: Ordinary shares....................N8 000 Preference shares..................N6 000 Corporate tax is 30%...............N10 000

What is the tax charged to profit and loss account?

A private company is different from a public company because?

The use of a three-column cash book is determine by?

A major factor that enhanced the early development of accounting is the?

which of the following is source of document for the preparation of debtors' ledger account?

Stationary which will be used over a long period of time is usually recorded as an expense instead of an asset.
This concept is called?