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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 2301:
Which of the following is a self-balancing account?
  • A Capital
  • B Interst on capital
  • C Drawings
  • D Share of profit
View Answer & Explanation
Question 2302:
A medium of imputing data into the computer is through the use of the
  • A Keyboard
  • B Monitor
  • C Software
  • D Hardware
View Answer & Explanation
Question 2303:
Which of the following is debited to partner's current account?
  • A Capital
  • B Interest on capital
  • C Drawings
  • D Share of profit
View Answer & Explanation
Question 2304:
Abu, a debtor to Dania, owed ₦10,500 at the start of the month. He paid cash of ₦40,005 during the month and received additional credit sales of ₦20,000.Using the information, In Dania's books, to record the payment of ₦30,505 cr.40,005 by Abu
  • A Debit cash account, credit Abu's account
  • B Debit Abu's account, credit cash account
  • C Debit cash account, credit sales account
  • D Debit sales account, credit cash account,
View Answer & Explanation
Question 2305:
Abu, a debtor to Dania, owed ₦10,500 at the start of the month. He paid cash of ₦40,005 during the month and received additional credit sales of ₦20,000.Using the information, Abu's balance at the end of the month is
  • A ₦30,505 cr.
  • B ₦9,505 cr.
  • C ₦9,505 dr.
  • D ₦30,500 dr.
View Answer & Explanation