Jamb Accounts - Principles of Accounts Questions
Question 1061:
An item in the balance sheet of a limited liability company is
- A Accrued expenses
- B Lighting and heating
- C Salaries and wages
- D General expenses
Question 1062:
The documents that provide instant information to firms on their tranactions with banks are
- A Bank statement and debit note
- B Cheque book and cashbook
- C Cheque stub and deposit slip
- D Payslip and credit invoice
Question 1063:
Which of the following is the capital reserve of a company?
- A Accumulated depreciation
- B Retained profit
- C Share premium
- D Loss on forfeited shares
Question 1064:
The effect of overstating revenue expenditure in the profit and loss account is that the
- A Opening stock will be increased
- B Net profit will be understand
- C Net profit will be overstead
- D Opening stock will be decreased
Question 1065:
Which of the following condition would attract credit and debit notes to be used?
- A When goods are received from supplier
- B When a trial balance is extracted
- C When a buyer is under or over charged
- D When goods are sold to a buyer