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Accounts - Principles of Accounts 2015 JAMB Past Questions

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16

The ledger entries to be made if cash sales is banked is debit

  • A. cash, credit sales
  • B. sales, credit cash
  • C. bank, credit cash
  • D. bank, credit sales
View Answer & Discuss JAMB 2015
17

In a bank reconciliation statement, Dishonoured cheques is added to

  • A. unpresented cheques
  • B. uncredited cheques
  • C. statement of account
  • D. aggregate balanace as per cash book
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18

Which of the following is a debit entry in debtors control account?

  • A. discount allowed
  • B. return inwards
  • C. credit sales
  • D. cash from debtors
View Answer & Discuss (1) JAMB 2015
NECO offline past questions - All questions, answers & explanations in one app 25712
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19

Which of the following is not a proper form of the accounting equation

  • A. fixed assets + current assets - liabilities = capital
  • B. fixed assests + current assests + liabilities = capital
  • C. fixed assets – liabilities + current assets = capital
  • D. fixed asset + current asset – capital = liabilities
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20

The accounting convention that state that, stock should be value that the lower of cost and net realized value is --------------- convention

  • A. marching
  • B. consistency
  • C. realization
  • D. prudency
View Answer & Discuss JAMB 2015
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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