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Accounts - Principles of Accounts Past Questions

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1396
The account that shows both the cash and bank transactions of an enterprise is
  • A. appropriation account
  • B. trading account
  • C. profit and loss account
  • D. cash book
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1397
A control account is
  • A. an imprest system
  • B. a statement of affairs
  • C. a bank reconciliation statement
  • D. a self balancing ledger system
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1398
In a not-for-profit making organization, the cash book is summarized in the form of
  • A. balance sheet
  • B. income and expenditure account
  • C. receipts and expenditure account
  • D. receipts and pryments account
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1399
Which of the following is found in a receipts and payments account?
  • A. accruals
  • B. prepayments
  • C. sepreciation of fixed assets
  • D. purchase of fixed assets
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1400
Using the following information,
\(\begin{array}{c|c} & ₦ \\ \hline \text{club house} & 375,000\\ \text{Furniture} & 250,000\\ \text{Sport kit} & 400,000 \\ \text{subscriptions prepaid} & 10,000\\ \text{Bar creditors} & 156,000 \\ \text{subscriptions owing} & 45,000\end{array}\)
What is the club's accumulated fund?
  • A. ₦924,000
  • B. ₦914,000
  • C. ₦904,000
  • D. ₦834,000
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