Accounts - Principles of Accounts 2011 JAMB Past Questions

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The process of reconciling cheques between banks is termed cheque?

A. clearing
B. truncation
C. holding
D. confirmation

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In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?

A. balance as per bank statement
B. bank balance as per adjusted cash book
C. aggregate balance as per cash book
D. bank balance as per cash book

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Use the information below to answer question

i) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank

Determine the current liabilities?

A. iii and v
B. ii and iii
C. iv and v
D. i and ii

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Use the information below to answer question

i) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank

Find the current assets?