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Accounts - Principles of Accounts
JAMB 2015
Accounts - Principles of Accounts 2015 JAMB Past Questions
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41
The income and expenditure account of a club is the same as
A.
single entry account
B.
a profit and loss account
C.
a trading account
D.
a cash book
View Answer & Discuss (1)
JAMB 2015
42
Goods stolen at the branch is debited to
A.
branch stock account
B.
defalcations account
C.
branch debtors account
D.
branch adjustment account
View Answer & Discuss (1)
JAMB 2015
43
Specific principles, bases, conventions, rules and practices adopted by an enterprise in preparing and presenting financial statements are known as ---------------------
A.
financial accounting
B.
accounting policies
C.
cost accounting
D.
accounting conventions
View Answer & Discuss
JAMB 2015
44
Which of the following cannot be realized?
A.
creditors
B.
debtors
C.
motor vehicles
D.
goodwill
View Answer & Discuss
JAMB 2015
45
If a trail balance is in agreement, one of the statement is untrue
A.
the accounting system is error free
B.
equal debit entries and credit entries were recorded for each transaction
C.
the debit and credit from the journal were posted to the accounts
D.
account balances were correctly computed
View Answer & Discuss
JAMB 2015
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