Jamb Accounts - Principles of Accounts Questions
Question 1421:
The effect of transaction when cash is paid into the bank is?
- A Bank balance decrease and cash balance increase
- B Cash balance decrease and bank balance increase
- C Bank balance decrease and cash balance decrease
- D Cash balance increase and bank balance increase
Question 1422:
Which of these is not a subsidiary books?
- A Sales day book
- B Purchase day book
- C Credit note
- D Return inward day book
Question 1423:
Salaries in arrears is treated in the balance sheet as a ____________
- A Current asset
- B Current liability
- C Long term liability
- D Fixed asset
Question 1424:
Capital for a profit making organization is generated through ____________
- A Gift
- B Donation
- C Shares
- D Subscription
Question 1425:
One of the options below have the same features as the profit and loss account in non-profit organization
- A Non profit account
- B Profit and loss account
- C Income and expenditure account
- D Receipts and payment account