Jamb Accounts - Principles of Accounts Questions
Question 191:
The need for changes in accounting theory in Nigeria was influenced by the?
- A Dynamics of commercialization and privatization policies
- B Growh in size of business units
- C Introduction of the structural adjustment programme
- D Inconvertibility of the nation's currency
Question 192:
A bookkeeping error occurs when there is?
- A A deliberate manipulation of records
- B Unintentional correct posting in the ledger
- C Intentional failure to record transactions completely
- D Incorrect records and oversights that are not intended
Question 193:
When a proprietor withdraws cash from the business for private use, he?
- A Debits cash account and credits drawings account
- B Credits cash account and debits bank account
- C Debits bank account and credits drawings account
- D Credits cash account and debits drawings account
Question 194:
A basic unifying concept in accounting implies that?
- A Where creditors'account is zero, the assets are equal to the owners' equity
- B There should be a balance in the creditors' account in order to measure total assets
- C Revenues should be supported by invested and owners'capital
- D Total assets can be less than liabilities and equity
Question 195:
A source document for the sales day book is?
- A A requisition form
- B An invoice
- C A customer advice
- D A credit advice