Register
Login
Username
Password
Remember me
Sign in
New here ?
Join Us
Register
Login
Home
Buy Now
Enter Store
Books
Computer Software
Forms
JAMB
Mobile Apps
NECO
Video Lessons Subscription
WAEC
Whatsapp Groups
Post UTME Past Question
Project & Research Materials
Latest News
JAMB News
Post-UTME News
Admission News
O'Level News
Scholarships
Pre-Degree News
Post-Graduate News
Events
Entertainment News
Politics News
Part Time News
Departmental News
General News
Study Abroad News
IJMB News
Gist & Gossips
Noticeboard
NYSC
Nursing School News
Find a Scholarship
Classroom
Enter now to Study
Start a Free Practice Exam
Topic by Topic Video Lessons
Past Questions Video Lessons
Current JAMB Novel
All Novels
Latest JAMB Syllabus
Latest JAMB Brochure
Exam Ranking
Ask a Question
All Questions
School-Based Questions
Academic Questions
Connect2Me
Find Friend
Update your Profile
Sell an Item
Buy an Item
Sell an Item
Events
All Events
Post an Event
Groups
Join a Group
Create a Group
[ Post UTME Begins ]:
View The List Of Schools That Have Released 2026 Post-UTME Forms.
Home
Classroom
Accounts - Principles of Accounts
Accounts - Principles of Accounts Past Questions
Exam Type:
All
JAMB
WAEC
NECO
Exam year:
All
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
Question Type:
All
Objective
Theory
Practical
Get Questions
Clear Selections
Change Subject
Post a Question
Check Syllabus
Study My Bookmarks
Past Questions Videos
Watch Video Lessons
Download App
106
A business transaction is recorded in the books of account when the?
A.
owner of the business invests his N10,000 in another company
B.
business retains part of ofits profits for future expansion purposes
C.
business invest applies for overdraft facilities from its bankers
D.
owner of the business collects N5,000 from the accountant
View Answer & Discuss (3)
JAMB 1998
107
When a transaction causes an assets account to increase, there is?
A.
a decrease of equal amount inthe owner's equity account
B.
an increase in a liability account
C.
an increase of equal amonut in another assets account
D.
a decrease of equal amount in a liability account
View Answer & Discuss (1)
JAMB 1998
108
N
Bank account 59,410
Capital account 50,000
Purchase account 20,000
Rent 2,500
Stationery 90
typewriter 6,500
Sales 38,000
In preparing a trial from the list of balances given above, what is the total in debit and credit columns?
A.
N147,910
B.
N138,500
C.
N88,500
D.
N85,800
View Answer & Discuss
JAMB 1998
109
The purchase of two generators by Hassan Electronics Enterprises should be recorded as?
A.
an acquistion of fixed assets
B.
an expenses in its general office expenses account
C.
an acquistion of stock
D.
a part of capital in the capital account
View Answer & Discuss (2)
JAMB 1998
110
If the inventory at the end of the current year is understated and the error is not caught during the following year, the effect is to?
A.
overstate income this year and understate in next year
B.
understate income this year and overstate in next year
C.
understate this year's income with no effect on the next year's
D.
overstate the income for the two-year period
View Answer & Discuss (2)
JAMB 1998
«
1
2
...
19
20
21
22
23
24
25
...
690
691
»
Start a Free Practice Test
Subjects
Mathematics
English Language
Chemistry
Physics
Biology
Geography
Literature in English
Economics
Commerce
Accounts - Principles of Accounts
Government
Christian Religious Knowledge (CRK)
Agricultural Science
Islamic Religious Knowledge (IRK)
History
Fine Arts
Music
French
Animal Husbandry
Insurance
Civic Education
Further Mathematics
Yoruba
Igbo
Arabic
Home Economics
Hausa
Book Keeping
Data Processing
Catering Craft Practice
Computer Studies
Marketing
Physical Education
Office Practice
Technical Drawing
Food and Nutrition
Home Management
Sign In
×
Username
Password
Remember me
Sign in
Don't have an account,
Click here to register