JAMB Past Questions and Answers - Page 1281

6,402.

A pension granted to any past president or vice-president shall be charged to the?

A.

Consolidation revenue fund

B.

Special pension fund

C.

Contingency fund

D.

Development fund

Correct answer is B

No explanation has been provided for this answer.

6,403.

Partners' share of profit is credited to? 

A.

A partner's current account

B.

A partner's capital account

C.

The profit and loss account

D.

The profit and loss appropriation account

Correct answer is A

No explanation has been provided for this answer.

6,404.

The gross profit disclosed in the branch stock adjustment account represents?

A.

Head office profit

B.

Unrealized profit

C.

Estimated profit

D.

Branch profit

Correct answer is D

No explanation has been provided for this answer.