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Accounts - Principles of Accounts 2018 JAMB Past Questions

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86

The basic role of accounting is to?

  • A. detect fraud
  • B. attest to financial statements
  • C. measure performance
  • D. protect shareholders
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87

The fixed amount of money given to a petty cashier at the beginning of a period is called?

  • A. Imprest
  • B. float
  • C. cash advance
  • D. cash
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88

A provision for bad debt account had N33,800 at the beginning of the year and N4,220 at the close of the year. If bad debts are calculated at the rate of 1/20% of annual credit sales, what was the credit sales for the period?

  • A. N210,000
  • B. N844,400
  • C. N840,000
  • D. N500,000
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