WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts

Accounts - Principles of Accounts Past Questions

Clear Selections
Change Subject Post a Question Check Syllabus Study My Bookmarks Past Questions Videos Watch Video Lessons Download App

Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
2571

In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?

  • A. virement
  • B. fund accounting
  • C. consolidated fund
  • D. financial regulation
View Answer & Discuss JAMB 2018
2572

which of the following  affects the accuracy and authenticity of trial balance? 

  • A. error of ommission
  • B. error of commission
  • C. error of transposition
  • D. error of original entry
View Answer & Discuss JAMB 2018
2573

The major advantages of an imprest system is that it ?

  • A. ensures a proper accountability for every expenditure
  • B. trains the young accountants in the preparation for greater responsibility
  • C. relieves the chief cashier of the numerous petty cash payments
  • D. serves as an analysis column for every expenses
View Answer & Discuss JAMB 2018
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
2574

The value of the current assets will be?

  • A. N10,361
  • B. N10,651
  • C. N17,396
  • D. N17,848
View Answer & Discuss JAMB 2018
Balance sheet (extract)
  N
Creditors 7,940
Prepaid expenses 290
Accrual expenses 323
Stock 4,500
Cash balances 4,956
Debtors 905

Use the information in the above table to answer the question.

2575

Determine the current liabilities.

  • A. N8,553
  • B. N8,263
  • C. N7,940
  • D. N1,228
View Answer & Discuss JAMB 2018
Start a Free Practice Test
 
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free