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Civil and Mechanical

J accounting 13

Written by Admin June 2, 2025October 5, 2025

Jamb Accounting 2013

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Question 1 of 49

1. Question

Accountant-general of the federation is responsible for

the general supervision of all auditing personnel in all the ministeries
Correct Incorrect Correct answer

the compilation of annual financial statement
Correct Incorrect Correct answer

the interpretation of rules and regulations affecting the private sectors
Correct Incorrect Correct answer

ensuring the efficient operation of the ministries
Correct Incorrect Correct answer

Correct

Incorrect
Question 2 of 49

2. Question

The addition of prime cost, indirect cost and opening work-in-progress less the closing
work-in-progress will result in cost of

goods available for sale
Correct Incorrect Correct answer

goods sold
Correct Incorrect Correct answer

goods manufactured
Correct Incorrect Correct answer

materials put into production
Correct Incorrect Correct answer

Correct

Incorrect
Question 3 of 49

3. Question

The corresponding entry of personal accounts found in the debit side of the cash is to

credit real accounts
Correct Incorrect Correct answer

Debit real accounts
Correct Incorrect Correct answer

credit the ledger
Correct Incorrect Correct answer

Debit the ledger
Correct Incorrect Correct answer

Correct

Incorrect
Question 4 of 49

4. Question

Which of the following expenses relates to the profit and loss account of a manufacturing

firm

Direct materials
Correct Incorrect Correct answer

Direct labour
Correct Incorrect Correct answer

Administrative overhead
Correct Incorrect Correct answer

Work-in-progress
Correct Incorrect Correct answer

Correct

Incorrect
Question 5 of 49

5. Question

A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap
value of #9,000The yearly depreciation using the straight line method would be

#8,800
Correct Incorrect Correct answer

#6,500
Correct Incorrect Correct answer

#5,200
Correct Incorrect Correct answer

#4,400
Correct Incorrect Correct answer

Correct

Incorrect
Question 6 of 49

6. Question

A partnership's internal regulations are set out by

A deed
Correct Incorrect Correct answer

A law
Correct Incorrect Correct answer

A constitution
Correct Incorrect Correct answer

An article
Correct Incorrect Correct answer

Correct

Incorrect
Question 7 of 49

7. Question

Which of the following is accounted for in receipts and payment account

Subscriptions recieved in advance
Correct Incorrect Correct answer

Subscriptions due not yet recieved
Correct Incorrect Correct answer

Depreciation of the club house
Correct Incorrect Correct answer

Accrued expenses on annual dances
Correct Incorrect Correct answer

Correct

Incorrect
Question 8 of 49

8. Question

The distributable profit available to shareholders at the end of each year is the

total profit and debtors balance
Correct Incorrect Correct answer

general reserve and retained profit
Correct Incorrect Correct answer

retained profit and fictitious assets
Correct Incorrect Correct answer

total profit less creditors balance
Correct Incorrect Correct answer

Correct

Incorrect
Question 9 of 49

9. Question

The purchase consideration that is lower than the net asset implies that, the buyer has
gained the advantage of

net income
Correct Incorrect Correct answer

Revenue reserve
Correct Incorrect Correct answer

Capital research
Correct Incorrect Correct answer

Net loss
Correct Incorrect Correct answer

Correct

Incorrect
Question 10 of 49

10. Question

Sales - #232,000
Opening stock - ₦28,000
Purchases - #128,000
Carriage inwards - ₦4,000
Carriage outwards - ₦6,000
Closing stock - ₦10,000
Discount received - ₦18,000
Expenses - ₦20,000

Calculate the gross profit

#100,000
Correct Incorrect Correct answer

#86,000
Correct Incorrect Correct answer

#82,000
Correct Incorrect Correct answer

#76,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 11 of 49

11. Question

July 1 - Started business with #10,500
July 31- Paid Agromachinex #6,000
owing them The double entry for July 31 would be

debit Agromachinex and credit cash
Correct Incorrect Correct answer

debit equipment and credit Agromachinex
Correct Incorrect Correct answer

credit capital and debit cash
Correct Incorrect Correct answer

credit cash and debit purchases
Correct Incorrect Correct answer

Correct

Incorrect
Question 12 of 49

12. Question

The debenture issued at par above the nominal value is said to be issued at a

cost price
Correct Incorrect Correct answer

Mark up
Correct Incorrect Correct answer

Premium
Correct Incorrect Correct answer

Margin
Correct Incorrect Correct answer

Correct

Incorrect
Question 13 of 49

13. Question

1/1/2010 31/12/2010
Creditors - #9,000 #9,800
Rent owing - #3,800 #2,500
Rates prepaid - #2,000 #3,500
Motor van - #8,000 #8,000
Premises - #10,000 #10,500
Find the opening capital

#5,700
Correct Incorrect Correct answer

#7,700
Correct Incorrect Correct answer

#9,800
Correct Incorrect Correct answer

#14,900
Correct Incorrect Correct answer

Correct

Incorrect
Question 14 of 49

14. Question

Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent.
To record the discount in the book of Saka, debit

discount recieved account and credit Alaka's account
Correct Incorrect Correct answer

Alaka's account and credit discount recieved account
Correct Incorrect Correct answer

Saka's account and credit discount recieved account
Correct Incorrect Correct answer

discount allowed account and credit Alaka's account
Correct Incorrect Correct answer

Correct

Incorrect
Question 15 of 49

15. Question

Given:Opening capital - #50,000
Closing capital - #64,000
Drawings - #16,000

Determine the net profit

#2,000
Correct Incorrect Correct answer

#14,000
Correct Incorrect Correct answer

#20,000
Correct Incorrect Correct answer

#30,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 16 of 49

16. Question

Which of the following is the capital reserve of a company

Share premium
Correct Incorrect Correct answer

Retained profit
Correct Incorrect Correct answer

Accumulated depreciation
Correct Incorrect Correct answer

Loss on forfeited shares
Correct Incorrect Correct answer

Correct

Incorrect
Question 17 of 49

17. Question

When shares are issued at a discount, entries are to debit

application allotment account and credit discount account
Correct Incorrect Correct answer

discount account and credit
Correct Incorrect Correct answer

cash account and credit discount account
Correct Incorrect Correct answer

discount account and credit bank account
Correct Incorrect Correct answer

Correct

Incorrect
Question 18 of 49

18. Question

Sales - #232,000
Opening stock - ₦28,000
Purchases - #128,000
Carriage inwards - ₦4,000
Carriage outwards - ₦6,000
Closing stock - ₦10,000
Discount received - ₦18,000
Expenses - ₦20,000
Calculate the expenses debited to the profit and loss
account

#17,000
Correct Incorrect Correct answer

#23,000
Correct Incorrect Correct answer

#26,000
Correct Incorrect Correct answer

#30,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 19 of 49

19. Question

A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap
value of #9,000.If the scrap value is presently #15,000 what will be the yearly depreciation
using straight line method?

#4,000
Correct Incorrect Correct answer

#7,000
Correct Incorrect Correct answer

#11,000
Correct Incorrect Correct answer

#24,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 20 of 49

20. Question

The total cash and cheques received from customers in a control account is derived from
the

purchases day book
Correct Incorrect Correct answer

cash book
Correct Incorrect Correct answer

income and expenditure account
Correct Incorrect Correct answer

sales journal
Correct Incorrect Correct answer

Correct

Incorrect
Question 21 of 49

21. Question

In a partnership account, interest on drawings is

debited to appropriation account
Correct Incorrect Correct answer

credited to appropiation account
Correct Incorrect Correct answer

treated as an expense in profit and loss account
Correct Incorrect Correct answer

recorded in the balance sheet as current assets
Correct Incorrect Correct answer

Correct

Incorrect
Question 22 of 49

22. Question

What type of stock valuation would a vegetable seller adopt in valuing it's product?

LIFO
Correct Incorrect Correct answer

FIFO
Correct Incorrect Correct answer

Sample average
Correct Incorrect Correct answer

Weighted average
Correct Incorrect Correct answer

Correct

Incorrect
Question 23 of 49

23. Question

When there is no basis of apportionment in an organization, the expenses should be
apportioned based on

Sales
Correct Incorrect Correct answer

Purchases
Correct Incorrect Correct answer

Equality
Correct Incorrect Correct answer

G Floor spaces
Correct Incorrect Correct answer

Correct

Incorrect
Question 24 of 49

24. Question

Accounting information seeks to provide

Permanent records for all transactions
Correct Incorrect Correct answer

Analysis of accounts to trade debtors
Correct Incorrect Correct answer

Audited reports on the accounts of a company
Correct Incorrect Correct answer

Data about the employees of a company
Correct Incorrect Correct answer

Correct

Incorrect
Question 25 of 49

25. Question

The estimated profit or loss for a period is calculated by

closing capital less opening capital add drawings
Correct Incorrect Correct answer

opening capital less closing capital add drawings
Correct Incorrect Correct answer

opening capital less drawings add closing capital
Correct Incorrect Correct answer

opening capital add closing add drawings
Correct Incorrect Correct answer

Correct

Incorrect
Question 26 of 49

26. Question

The issued share capital is the number of shares that are

authorized by share holders
Correct Incorrect Correct answer

shared among the directors
Correct Incorrect Correct answer

fully subscribed
Correct Incorrect Correct answer

in the share certificate
Correct Incorrect Correct answer

Correct

Incorrect
Question 27 of 49

27. Question

1/1/2010 31/12/2010
Creditors - #9,000 #9,800
Rent owing - #3,800 #2,500
Rates prepaid - #2,000 #3,500
Motor van - #8,000 #8,000
Premises - #10,000 #10,500

Calculate the closing capital

#8,700
Correct Incorrect Correct answer

#9,500
Correct Incorrect Correct answer

#9,700
Correct Incorrect Correct answer

#10,700
Correct Incorrect Correct answer

Correct

Incorrect
Question 28 of 49

28. Question

Department K Y
Opening stock #2,500 #800
Purchases #120,000 #100,000
Sales #180,000 #200,000
Salaries #8,000 #30,000
Closing stock #3,000 #1,500
Rate expenses of #1,500 are apportioned in the ratio 1:2.
The gross profit for K is

#23,500
Correct Incorrect Correct answer

#60,500
Correct Incorrect Correct answer

#60,700
Correct Incorrect Correct answer

#82,500
Correct Incorrect Correct answer

Correct

Incorrect
Question 29 of 49

29. Question

The purchase of mattresses from Freehold enterprises by cheque amounted to #305,150.
The correct entries for this transaction in the book of the buyer is to debit

sales account and credit bank account
Correct Incorrect Correct answer

purchases and credit bank account
Correct Incorrect Correct answer

cash and credit freehold
Correct Incorrect Correct answer

bank and credit freehold
Correct Incorrect Correct answer

Correct

Incorrect
Question 30 of 49

30. Question

I. The amount of the imprest is the same from one organization to
another
II.At the end of a fixed period, the petty cashier received a fixed sum of
money.
III. At the end of a period, the petty cashier is reimbursed with the
amount spent in that period.
IV. The system is a method by which a measure of control is kept on
petty cash expenses.

Which of the above is correct about the imprest
system?

I, II and III
Correct Incorrect Correct answer

II, III and IV
Correct Incorrect Correct answer

II and IV
Correct Incorrect Correct answer

III and IV
Correct Incorrect Correct answer

Correct

Incorrect
Question 31 of 49

31. Question

When goods produced are transferrd at cost plus mark-up sale, the difference between the
cost and the transferred price is a

Discount
Correct Incorrect Correct answer

Salws commission
Correct Incorrect Correct answer

manufacturing profit
Correct Incorrect Correct answer

Factory reserves
Correct Incorrect Correct answer

Correct

Incorrect
Question 32 of 49

32. Question

Which of the following items is a capital expenditure?

Maintenance of office machine
Correct Incorrect Correct answer

Purchase of office stationery
Correct Incorrect Correct answer

Carriage inwards
Correct Incorrect Correct answer

Purchase of office machinery
Correct Incorrect Correct answer

Correct

Incorrect
Question 33 of 49

33. Question

In manufacturing account, the work-in-progress at the end of the year is

deducted from the cost of goods completed during this year
Correct Incorrect Correct answer

added to the cost of goods completed
Correct Incorrect Correct answer

stated in the profit and loss account
Correct Incorrect Correct answer

stated in the prime cost section
Correct Incorrect Correct answer

Correct

Incorrect
Question 34 of 49

34. Question

Given:Assets and Liabilities of a Local Government
Bank balance #6,484,000
Cash ₦900,000
General revenue balances #9,774,500
Accrued salaries #1,220,000
Investment in shares #1,480,000
Vehicles #7,620,000

Calculate the liabilities of the local government.

#10,994,500
Correct Incorrect Correct answer

#17,394,500
Correct Incorrect Correct answer

#18,774,500
Correct Incorrect Correct answer

#18,874,500
Correct Incorrect Correct answer

Correct

Incorrect
Question 35 of 49

35. Question

Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000

Direct wages - #30,000
Carriages of raw materials - #10,000

Determine the prime cost

#525,000
Correct Incorrect Correct answer

#515,000
Correct Incorrect Correct answer

#465,000
Correct Incorrect Correct answer

#370,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 36 of 49

36. Question

The objective of departmental account is to

ascertain the cost of running the organization
Correct Incorrect Correct answer

ascertain the amount of profit or loss for each department
Correct Incorrect Correct answer

ascertain the amount of profits for losses for the enterprises
Correct Incorrect Correct answer

offset the loss of each treatment
Correct Incorrect Correct answer

Correct

Incorrect
Question 37 of 49

37. Question

I. Direct materials
II.Direct labour
III.Direct expenses
IV. Factory expenses

Prime cost consist of

I,II and III
Correct Incorrect Correct answer

I,II and IV
Correct Incorrect Correct answer

I,III and IV
Correct Incorrect Correct answer

II,III and IV
Correct Incorrect Correct answer

Correct

Incorrect
Question 38 of 49

38. Question

July 1 - Started business with #10,500
July 31- Paid Agromachinex #6,000

owing them The double entry for July 1 would be

debit capital and credit cash
Correct Incorrect Correct answer

credit cash and debit bank
Correct Incorrect Correct answer

debit cash and credit capital
Correct Incorrect Correct answer

debit purchases and credit cash
Correct Incorrect Correct answer

Correct

Incorrect
Question 39 of 49

39. Question

Department K Y
Opening stock #2,500 #800
Purchases #120,000 #100,000
Sales #180,000 #200,000
Salaries #8,000 #30,000
Closing stock #3,000 #1,500
Rate expenses of #1,500 are apportioned in the ratio 1:2.

What is he net profit of Y?

#52,000
Correct Incorrect Correct answer

#68,300
Correct Incorrect Correct answer

#68,800
Correct Incorrect Correct answer

#69,700
Correct Incorrect Correct answer

Correct

Incorrect
Question 40 of 49

40. Question

The total credit sales for a period can be extracted from the

Cash book
Correct Incorrect Correct answer

sales day book
Correct Incorrect Correct answer

petty cash book
Correct Incorrect Correct answer

returns inwards
Correct Incorrect Correct answer

Correct

Incorrect
Question 41 of 49

41. Question

Opening stock of raw materials - #75,000
Purchase of raw materials - #330,000
Closing stock of raw materials - #80,000
Direct wages - #30,000
Carriages of raw materials - #10,000
Calculate the cost of raw materials used

#495,000
Correct Incorrect Correct answer

#415,000
Correct Incorrect Correct answer

#335,000
Correct Incorrect Correct answer

#305,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 42 of 49

42. Question

When the debit side total of an account, t means that the account has

been overdrawn
Correct Incorrect Correct answer

been understand
Correct Incorrect Correct answer

Debit balance
Correct Incorrect Correct answer

credit balance
Correct Incorrect Correct answer

Correct

Incorrect
Question 43 of 49

43. Question

Given:Opening capital - #1,500
Capital introduced - ₦500
Profit for the year - ₦800
Cash drawings - ₦250

Calculate the closing capital

#2,550
Correct Incorrect Correct answer

#2,500
Correct Incorrect Correct answer

#2,350
Correct Incorrect Correct answer

#2,250
Correct Incorrect Correct answer

Correct

Incorrect
Question 44 of 49

44. Question

Given:Drawings - #3,500
Net loss - #2,500
Capital 1/1/2007 - #35,000
Additional capital - #10,000

The adjusted capital as at 31/1/2007 is

#35,000
Correct Incorrect Correct answer

#39,000
Correct Incorrect Correct answer

#45,000
Correct Incorrect Correct answer

#46,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 45 of 49

45. Question

The amount paid by a new partner on admission as a compensation for the reputation built
up by old partners is a

Bonus
Correct Incorrect Correct answer

Commission
Correct Incorrect Correct answer

Premium
Correct Incorrect Correct answer

Goodwill
Correct Incorrect Correct answer

Correct

Incorrect
Question 46 of 49

46. Question

When a share valued at 50k is issued at #1.59, it is said to be issued at

Par
Correct Incorrect Correct answer

Premium
Correct Incorrect Correct answer

Discount
Correct Incorrect Correct answer

Interest
Correct Incorrect Correct answer

Correct

Incorrect
Question 47 of 49

47. Question

An instrument which allows public officers to increase expenditure within a year is

statutory allocation
Correct Incorrect Correct answer

supplementary budget
Correct Incorrect Correct answer

Virement
Correct Incorrect Correct answer

Warrant
Correct Incorrect Correct answer

Correct

Incorrect
Question 48 of 49

48. Question

Given:
Applications were invited by the directors of Abiodun PLC for 500,000
ordinary shares of #1:00 each at #1:10 per share payable as follows;
On application 46k
On allotment 20k
1st Call 15k
2nd Call 19k

How much is to be paid for application?

#230,000
Correct Incorrect Correct answer

#280,000
Correct Incorrect Correct answer

#500,000
Correct Incorrect Correct answer

#550,000
Correct Incorrect Correct answer

Correct

Incorrect
Question 49 of 49

49. Question

The major source document which enables an employer to calculate the employee wages
is the

nominal roll of employees
Correct Incorrect Correct answer

record of number of hours worked
Correct Incorrect Correct answer

effort of the employee
Correct Incorrect Correct answer

record of number of dependants per employee
Correct Incorrect Correct answer

Correct

Incorrect

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