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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
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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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