JAMB Principles Of Accounts Past Questions, Answers & Explanations - Accounts - Principles of Accounts

Jamb Accounts - Principles of Accounts Questions

Question 11:

JAMB 1997

Which of the following demonstrates the imprest system?

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A Float â†’ expenses paid â†’ cash in bank â†’ float
B Float → cash from bank → expenses paid → float
C Float â†’ expenses paidâ†’ cash from bank â†’ float
D Float â†’ cash in bank â†’ expenses paid â†’ float

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Question 12:

JAMB 1997

When the sum of money appears on the credit side of the cash book, but not on the debit side of the bank statement, the sum is regarded as

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A Uncredited cheques
B Dishonoured cheques
C Direct remittance to the bank
D Unpresented cheques

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Question 13:

JAMB 1997

An examination of the cash book on 3rd August 1993 showed a different balance from the bank statement of 31st July, 1993 which read N722. Uncredited cheques were Bimpe N40; Wale N60 while unpresented cheques were; Usman N20, Kalu N32 and Musa N70. What is the cash book balance after the reconciliation?

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