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Accounts - Principles of Accounts Past Questions

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2346
The total cash and cheques received from customers in a control account is derived from the
  • A. income and expenditure account
  • B. cashbook
  • C. purchases day book
  • D. sales journal
View Answer & Discuss (2) JAMB 2016
2347

Which of the foloowing is a credit item in creditors ledger control account?

  • A. Returns outwards
  • B. Discount Received
  • C. Bad debts
  • D. Purchases
View Answer & Discuss (1) JAMB 2016
2348

The trader's capital in a single entry system is ascertained by preparing

  • A. gross profit
  • B. statement of affairs
  • C. suspense account
  • D. appropriation account
View Answer & Discuss JAMB 2016
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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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2349

I. Members subscription
II. Fines from members
III. Donation
IV. Loan from bank

From the information above, sources of income for a Not-for-profit-making organization include

  • A. I,III,IV
  • B. I,II,III
  • C. I,II,IV
  • D. I and IV
View Answer & Discuss (2) JAMB 2016
2350

Clifford pays rent of #200 per month for premises, He paid #2,800 within the year. Compute the prepayment.

  • A. #300
  • B. #400
  • C. #600
  • D. #200
View Answer & Discuss (6) JAMB 2016
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts