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Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Questions

Question 6:
The account which refers to the tangible assets of a company that is of permanent nature is the?
  • A Personal account
  • B Real account
  • C Nominal account
  • D Cash account
View Answer & Explanation
Question 7:
Th major feature of an invoice is that, it?
  • A Passes information through the sales day book
  • B Has cash and bank column
  • C Specifies the particular of goods bought
  • D Indicates only the cash sales
View Answer & Explanation
Question 8:
The source documents include?
  • A Cash book
  • B Petty cash book
  • C General ledger
  • D Credit notes
View Answer & Explanation
Question 9:
A major cause of discrepancy between bank statement and the cash book that overstates the bank statement balance is the?
  • A Commission paid
  • B Interest received
  • C Direct payment
  • D Direct withdrawal
View Answer & Explanation
Question 10:
The bank charges levied on a current account holder is the charge on?
  • A Transaction
  • B Turnover
  • C Transfer
  • D Cash received
View Answer & Explanation