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Accounts - Principles of Accounts Past Questions

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356
A source document is used for verifying the?
  • A. amount due to creditors
  • B. actual cost of an asset
  • C. selling price of goods
  • D. amount due from debtors
View Answer & Discuss JAMB 2004
357
The rule of accounting equation requires that account payable should be placed under?
  • A. liabilities
  • B. equities
  • C. assets
  • D. capital
View Answer & Discuss JAMB 2004
358
A debit in the suspense accounting will appear in the balance sheet as?
  • A. a current asset
  • B. a current lability
  • C. capital
  • D. drawings
View Answer & Discuss (1) JAMB 2004
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359
The receipt whose name appears on a cheque is called a?
  • A. payer
  • B. drawer
  • C. drawee
  • D. payee
View Answer & Discuss JAMB 2004
360
The imprest account is subsidiary to the?
  • A. ledger account
  • B. bank account
  • C. cash book
  • D. bank column
View Answer & Discuss (1) JAMB 2004
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