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Accounts - Principles of Accounts Past Questions

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456
The use of a three-column cash book is determine by?
  • A. cash discounts
  • B. trade discounts
  • C. cash transactions
  • D. bank transactions
View Answer & Discuss JAMB 2006
457
A major factor that enhanced the early development of accounting is the?
  • A. Industrial Revolution
  • B. growing of trade and commerce
  • C. development of arithmetic
  • D. invention of writing
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458
which of the following is source of document for the preparation of debtors' ledger account?
  • A. Debit note
  • B. General journal
  • C. Purchases invoice
  • D. Sales invoice
View Answer & Discuss JAMB 2006
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459
Stationary which will be used over a long period of time is usually recorded as an expense instead of an asset.
This concept is called?
  • A. entity
  • B. materiality
  • C. realization
  • D. accrual
View Answer & Discuss JAMB 2006
460
Adaobi mistakenly entered N7000 as credit sales in Abba's account. This is?
  • A. an error of principles
  • B. a compensating error
  • C. an error of commission
  • D. an error omission
View Answer & Discuss JAMB 2006
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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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