The Joint Admissions and Matriculation Board (JAMB) is a crucial examination body in Nigeria. Every year, thousands of students sit for the JAMB exam to gain admission into universities, polytechnics, and colleges of education.
One of the popular subjects students choose is Principles of Accounts. If you’re preparing for the JAMB Principles of Accounts exam for the 2025/2026 session, this article is for you. We’ll cover everything you need to know about the exam, including tips, sample questions, and answers.
What is JAMB Principles of Accounts?
Principles of Accounts is a subject that deals with the fundamentals of accounting. It teaches students how to record, analyze, and interpret financial transactions. In the JAMB exam, this subject tests your understanding of basic accounting concepts, such as bookkeeping, financial statements, and accounting principles.
The JAMB Principles of Accounts exam is designed to assess your knowledge and ability to apply accounting principles to real-life situations. It’s a subject that requires both theoretical understanding and practical application. If you’re aiming for a high score, you need to prepare thoroughly.
Why is JAMB Principles of Accounts Important?
- University Admission: Many universities in Nigeria require a good score in Principles of Accounts for admission into accounting, business administration, and related courses.
- Career Foundation: A strong understanding of accounting principles is essential for a career in finance, auditing, or business management.
- Problem-Solving Skills: The subject helps you develop critical thinking and problem-solving skills, which are valuable in any profession.
How to Prepare for JAMB Principles of Accounts 2025/2026
- Understand the Syllabus: The first step in your preparation is to understand the JAMB Principles of Accounts syllabus. The syllabus outlines the topics you need to study. Some key topics include:
- Introduction to Accounting
- Principles of Double Entry
- Cashbook and Ledger
- Trial Balance
- Financial Statements
- Depreciation
- Control Accounts
- Bank Reconciliation
- Accounting Ratios
- Use Recommended Textbooks: JAMB provides a list of recommended textbooks for Principles of Accounts. Some popular ones include:
- “Accounting for Senior Secondary Schools” by Akinduko, A.O.
- “Simplified and Amplified Financial Accounting” by Ukpai, A.U.
- “Principles of Accounts” by Wood, F. and Sangster, A.
- Practice Past Questions: Practicing past questions is one of the most effective ways to prepare for the exam. It helps you understand the exam format and identify areas where you need improvement.
- Join Study Groups: Studying with peers can be very helpful. You can share ideas, solve problems together, and learn from each other.
- Take Mock Exams: Mock exams simulate the real JAMB exam. They help you manage your time and build confidence.
Sample JAMB Principles of Accounts Questions and Answers 2025/2026
To give you a head start, here are some sample questions and answers based on past JAMB Principles of Accounts exams. These questions cover various topics in the syllabus.
Question 1: What is the primary purpose of accounting?
A) To provide information for decision-making
B) To record financial transactions only
C) To prepare tax returns
D) To manage a company’s employees
Answer: A) To provide information for decision-making
Explanation: The primary purpose of accounting is to provide financial information that helps stakeholders make informed decisions.
Question 2: Which of the following is a book of original entry?
A) Ledger
B) Trial Balance
C) Cashbook
D) Balance Sheet
Answer: C) Cashbook
Explanation: A cashbook is a book of original entry where all cash transactions are recorded before being posted to the ledger.
Question 3: What is the effect of an increase in assets on the accounting equation?
A) Liabilities increase
B) Capital decreases
C) Capital increases
D) Liabilities decrease
Answer: C) Capital increases
Explanation: An increase in assets leads to an increase in capital, as per the accounting equation: Assets = Liabilities + Capital.
Question 4: Which of the following is NOT a financial statement?
A) Income Statement
B) Balance Sheet
C) Cash Flow Statement
D) Trial Balance
Answer: D) Trial Balance
Explanation: The trial balance is not a financial statement. It is a summary of all ledger balances used to check the accuracy of accounts.
Question 5: What is the formula for calculating depreciation using the straight-line method?
A) (Cost – Residual Value) / Useful Life
B) (Cost + Residual Value) / Useful Life
C) (Cost – Residual Value) x Useful Life
D) (Cost + Residual Value) x Useful Life
Answer: A) (Cost – Residual Value) / Useful Life
Explanation: The straight-line method calculates depreciation by dividing the difference between the cost and residual value by the useful life of the asset.
Question 6: What is the purpose of a bank reconciliation statement?
A) To compare the bank balance with the cashbook balance
B) To prepare financial statements
C) To record daily transactions
D) To calculate profit and loss
Answer: A) To compare the bank balance with the cashbook balance
Explanation: A bank reconciliation statement is used to identify and correct discrepancies between the bank balance and the cashbook balance.
Question 7: Which of the following is a current liability?
A) Land
B) Machinery
C) Accounts Payable
D) Building
Answer: C) Accounts Payable
Explanation: Accounts payable is a current liability because it represents amounts owed to suppliers that are due within one year.
Question 8: What is the accounting equation?
A) Assets = Liabilities + Capital
B) Assets = Liabilities – Capital
C) Assets + Liabilities = Capital
D) Assets – Liabilities = Capital
Answer: A) Assets = Liabilities + Capital
Explanation: The accounting equation states that a company’s assets are equal to the sum of its liabilities and capital.
Question 9: Which of the following is an example of a nominal account?
A) Cash
B) Sales
C) Land
D) Accounts Receivable
Answer: B) Sales
Explanation: A nominal account records income, expenses, gains, and losses. Sales is an example of a nominal account.
Question 10: What is the purpose of a trial balance?
A) To prepare financial statements
B) To check the accuracy of ledger balances
C) To record transactions
D) To calculate profit and loss
Answer: B) To check the accuracy of ledger balances
Explanation: A trial balance is prepared to ensure that the total debits equal the total credits in the ledger accounts.
Tips for Answering JAMB Principles of Accounts Questions
- Read Questions Carefully: Make sure you understand what each question is asking before choosing an answer.
- Manage Your Time: The JAMB exam is time-bound. Practice answering questions within the allotted time.
- Eliminate Wrong Options: If you’re unsure of an answer, eliminate the options that are clearly wrong.
- Review Your Answers: If time permits, go through your answers to correct any mistakes.
Common Mistakes to Avoid in JAMB Principles of Accounts
- Ignoring the Syllabus: Stick to the JAMB syllabus to avoid studying irrelevant topics.
- Not Practicing Enough: Practice is key to success in Principles of Accounts. Don’t rely solely on theory.
- Poor Time Management: Practice answering questions within the time limit to avoid rushing during the exam.
- Overlooking Past Questions: Past questions give you insight into the exam format and frequently tested topics.
Conclusion
Preparing for the JAMB Principles of Accounts exam requires dedication, practice, and a clear understanding of the syllabus. By studying the recommended textbooks, practicing past questions, and taking mock exams, you can improve your chances of scoring high. Remember to manage your time effectively during the exam and avoid common mistakes.
Good luck with your JAMB Principles of Accounts exam in 2025/2026! With the right preparation, you can achieve your desired score and secure admission into your preferred institution.
FAQs
What is the pass mark for JAMB Principles of Accounts?
The pass mark for JAMB Principles of Accounts varies depending on the institution. However, aiming for a score of at least 200 is advisable to increase your chances of admission.
How many questions are in the JAMB Principles of Accounts exam?
The JAMB Principles of Accounts exam typically consists of 50 questions, which you are expected to answer within 1 hour.
Can I use a calculator during the JAMB Principles of Accounts exam?
No, calculators are not allowed during the JAMB exam. You’ll need to perform calculations manually.
How can I access past JAMB Principles of Accounts questions?
You can access past questions from JAMB-approved bookstores, online platforms, or study centers.
Is Principles of Accounts difficult to pass in JAMB?
With proper preparation and consistent practice, Principles of Accounts is not difficult to pass. Focus on understanding the concepts and practicing past questions.
What topics should I focus on for the JAMB Principles of Accounts exam?
Focus on key topics such as double entry, financial statements, depreciation, and bank reconciliation, as these are frequently tested.
Can I combine Principles of Accounts with other subjects in JAMB?
Yes, you can combine Principles of Accounts with subjects like Economics, Commerce, and Mathematics, depending on your course of study.
How long should I prepare for the JAMB Principles of Accounts exam?
It’s advisable to start preparing at least 3-6 months before the exam to cover the syllabus thoroughly and practice adequately.
Are there any shortcuts to passing JAMB Principles of Accounts?
There are no shortcuts to success. Consistent study, practice, and understanding of the subject are the keys to passing.
What should I do if I fail the JAMB Principles of Accounts exam?
If you don’t perform well, you can retake the exam in the next session. Use the opportunity to identify your weaknesses and improve your preparation.
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