Jamb Accounts - Principles of Accounts Questions
Question 1:
The historical development of accounting reveals that it?
- A Deals with debit and credit of items
- B Is a product of financial development
- C Is a product of its own evironmnent
- D Is an ideal subject for finacial development
Question 2:
The historical development of accounting reveals that it?
- A Deals with debit and credit of items
- B Is a product of financial development
- C Is a product of its own evironmnent
- D Is an ideal subject for finacial development
Question 3:
In a trial balance, income and liabilities are?
- A Debited and credited respectively
- B Credited
- C Credited and debited respectively
- D Debited
Question 4:
The principle of double entry system ensures?
- A Mathematical accuracy in trial balance
- B Balances at the bank
- C Increase in the assets and liabilities
- D Balance of cash account
Question 5:
i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure
The correct procedure for balancing account is?
- A Ii, i and iii
- B I, iii and ii
- C Ii, iii and i
- D I, ii and iii