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Accounts - Principles of Accounts 2025 JAMB Past Questions

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61

When shares are sold at less than the nominal value, it means they are issued at

  • A. a premium
  • B. par
  • C. a loss
  • D. a discount
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62

Which of the following is not credited to debtors control account?

  • A. Bad debts
  • B. Discounts allowed
  • C. Provision for bad debt
  • D. Bills receivable
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63

The capital of a sole trader changes as a result of

  • A. drawings by cheque
  • B. equipment purchased by cheque
  • C. paying wages by cash
  • D. goods purchase by cheque
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64

The balance on the Sales Ledger Control Account at the end of the accounting year represents total

  • A. credit sales for the year
  • B. trade debtors at the end of the year
  • C. cash sales for the year
  • D. amount transferred from the Sales Day Book
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65

Which of the following is not a source document?

  • A. Invoice
  • B. Credit note
  • C. Debit note
  • D. Bank note
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