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Accounts - Principles of Accounts Past Questions

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1191
The total of the discount from creditors is transferred to
  • A. credit side of discounts received account
  • B. debit side of discounts received account
  • C. credit side of discounts allowed account
  • D. debit side of discounts allowed account
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1192
The total of the discounts is transferred to
  • A. credit side of Discounts Received Account
  • B. debit side of Discounts received account
  • C. credit side of Discounts allowed account
  • D. debit side of discounts allowed account
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1193
The profit of sole trader increases his
  • A. stock
  • B. asset
  • C. liability
  • D. capial
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1194
Use following information to answer the given
\(\begin{array}{c|c} & ₦\\ \hline \text{Balance as per cash book} & 8,000 Cr\\ \text{Unpresented cheques} & 14,400\\ \text{Uncredited cheque} & 2,600\\ \text{Uncredited cheques} & 2,600\end{array}\)
A cheque for ₦2,000 paid to a creditor had been entered in error in the cash book.The debit side of the cash book(bank column) had been undercast by ₦5,000. The adjusted balance as per cash book is
  • A. ₦10,800 Cr
  • B. ₦5,800Cr
  • C. ₦5,800Dr
  • D. ₦10,800Dr
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1195
Use following information to answer the given
\(\begin{array}{c|c} & ₦ \\ \hline \text{Balance as per cash book} & 8,000 Cr\\ \text{Unpresented cheques} & 14,400\\ \text{Uncredited cheque} & 2,600\\ \text{Uncredited cheques} & 2,600\end{array}\)
A cheque for ₦2,000 paid to a creditor had been entered in error in the cash book.The debit side of the cash book(bank column) had been undercast by ₦5,000. The balance as per bank statement is
  • A. ₦8,000Cr
  • B. ₦6,000Cr
  • C. ₦6,00Dr
  • D. ₦8,000Dr
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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