Jamb Accounts - Principles of Accounts Questions
Question 1001:
In a bank reconciliation statement, Dishonoured cheques is added to
- A Unpresented cheques
- B Uncredited cheques
- C Statement of account
- D Aggregate balanace as per cash book
Question 1002:
Which of the following is a debit entry in debtors control account?
- A Discount allowed
- B Return inwards
- C Credit sales
- D Cash from debtors
Question 1003:
Which of the following is not a proper form of the accounting equation
- A Fixed assets + current assets - liabilities = capital
- B Fixed assests + current assests + liabilities = capital
- C Fixed assets – liabilities + current assets = capital
- D Fixed asset + current asset – capital = liabilities
Question 1004:
The accounting convention that state that, stock should be value that the lower of cost and net realized value is --------------- convention
- A Marching
- B Consistency
- C Realization
- D Prudency
Question 1005:
What does liquidity ratio measure?
- A Measures operating efficiency of a company
- B Measures the ability of a company to meet its current obligations.
- C Measures the value of investments of a company
- D Measures the financial leverage of a company