Accounts - Principles of Accounts 2011 JAMB Past Questions

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The historical development of accounting reveals that it?

A. deals with debit and credit of items
B. is a product of financial development
C. is a product of its own evironmnent
D. is an ideal subject for finacial development

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In a trial balance, income and liabilities are?

A. debited and credited respectively
B. credited
C. credited and debited respectively
D. debited

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The principle of double entry system ensures?

A. mathematical accuracy in trial balance
B. balances at the bank
C. increase in the assets and liabilities
D. balance of cash account

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i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure

The correct procedure for balancing account is?

A. ii, i and iii
B. i, iii and ii
C. ii, iii and i
D. i, ii and iii

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Given:

Light expenses...................N400
Purchases........................N3,000
Sales............................N1,200
Creditors........................N2,250
Debtors..........................N50

Calculate the total of the trial balance?

A. N4,250
B. N3,500
C. N4,300
D. N3,450

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Accounts - Principles of Accounts 2011 JAMB Past Questions

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