JAMB Accounting Past Questions & Answers - Page 167

831.

The salary of the chief Justice of the Federation is paid from the?

A.

Consolidated revenue fund

B.

Development fund

C.

Contigency fund

D.

Special fund

Correct answer is A

No explanation has been provided for this answer.

832.

A source of revenue that is compulsory payment without any derived benefit is?

A.

Fees

B.

Taxes

C.

Fines

D.

Royalties

Correct answer is C

No explanation has been provided for this answer.

833.

Ordinary shareholders received dividend before?

A.

Creditors

B.

Debtors

C.

Preference shareholders

D.

Deferred shareholders

Correct answer is D

No explanation has been provided for this answer.

834.

Cash received from the subscribed shares is recorded by debting?

A.

Application, allotment and crediting cash

B.

Allotment and crediting cash

C.

Cash and crediting subscribed shares

D.

Cash, crediting application and allotment account

Correct answer is D

No explanation has been provided for this answer.

835.

Goodwill can be in the balance sheet as?

A.

Fixed tangible asset

B.

Current asset

C.

Fictitious asset

D.

Liquid asset

Correct answer is C

No explanation has been provided for this answer.