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Accounts - Principles of Accounts 2018 JAMB Past Questions

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56

The accounting entries used to record a cheque issued by a business is to?

  • A. debit cash book and credit drawer
  • B. credit cash book and debit drawer
  • C. debit cash book and credit suspense account
  • D. credit cash book and debit suspense account
View Answer & Discuss JAMB 2018
57

In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?

  • A. virement
  • B. fund accounting
  • C. consolidated fund
  • D. financial regulation
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58

which of the following  affects the accuracy and authenticity of trial balance? 

  • A. error of ommission
  • B. error of commission
  • C. error of transposition
  • D. error of original entry
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59

The major advantages of an imprest system is that it ?

  • A. ensures a proper accountability for every expenditure
  • B. trains the young accountants in the preparation for greater responsibility
  • C. relieves the chief cashier of the numerous petty cash payments
  • D. serves as an analysis column for every expenses
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60

The value of the current assets will be?

  • A. N10,361
  • B. N10,651
  • C. N17,396
  • D. N17,848
View Answer & Discuss (1) JAMB 2018
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