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Accounts - Principles of Accounts 2023 JAMB Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
26

An evidence of payment issued to a government ministry by a revenue collector is

  • A. treasury card
  • B. payment voucher
  • C. treasury receipt
  • D. receipt voucher
View Answer & Discuss (1) JAMB 2023
27

The account where the profit are distributed to the partner in their profit sharing ratio in partnership

  • A. appropriation account
  • B. profit and loss account
  • C. balance sheet
  • D. trading account
View Answer & Discuss JAMB 2023
28

The main purpose of transaction file is?

  • A. to record assets and liabilities
  • B. to update income and expenses
  • C. to make organization decision
  • D. to update master files
View Answer & Discuss JAMB 2023
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29

A double entry for a transaction that offsets one amount against another on both sides of the cashbook is a

  • A. original entry
  • B. contract entry
  • C. prime entry
  • D. contra entry
View Answer & Discuss JAMB 2023
30

When starting with the cash book balance in preparing the bank reconciliation statement, the followings are added except

  • A. uncredited cheque
  • B. credit transfer
  • C. dividend
  • D. unpresented cheque
View Answer & Discuss JAMB 2023
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