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Accounts - Principles of Accounts Past Questions

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751
The Petroleum Technology Development Fund is under the
  • A. general fund
  • B. contingency fund
  • C. trust fund
  • D. capital fund
View Answer & Discuss JAMB 2012
752

The power to appoint the Auditor General of the Federation is vested in the

  • A. National Assembly
  • B. President
  • C. Judicial Service Commission
  • D. Civil Service Commission
View Answer & Discuss JAMB 2012
753

Accounting information seeks to provide

  • A. permanent records for all transactions
  • B. analysis of accounts to trade debtors
  • C. audited reports on the accounts of a company
  • D. data about the employees of a company
View Answer & Discuss JAMB 2013
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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754

When the debit side total of an account, it means that the account has

  • A. been overdrawn
  • B. been understand
  • C. debit balance
  • D. credit balance
View Answer & Discuss JAMB 2013
755

July 1 - Started business with #10,500
July 31- Paid Agromachinex #6,000 owing
them

The double entry for July 1 would be

  • A. debit capital and credit cash
  • B. credit cash and debit bank
  • C. debit cash and credit capital
  • D. debit purchases and credit cash
View Answer & Discuss (5) JAMB 2013
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