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Friday, 14 August 2026
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Accounts - Principles of Accounts Past Questions and Answers

Topic: Bank Transactions and Reconciliation Statements

Jamb Accounts - Principles of Accounts Questions - Bank Transactions and Reconciliation Statements

Question 1:
The amount required to replenish the payments made from the imprest was?
  • A N399
  • B N394
  • C N358
  • D N101
View Answer & Explanation
Question 2:
The process whereby a cheque received by one person is given to another is known as?
  • A Cheque crossing
  • B Payment in cheque
  • C Cheque transfer
  • D Cheque endorsement
View Answer & Explanation
Question 3:
If cheques of N40 000 were received but a cheque of N8 000 was dishonoured, the amount owed was
  • A N9 000
  • B N20 000
  • C N 1000
  • D N17 000
View Answer & Explanation
Question 4:
The bank charges levied on a current account holder is the charge on?
  • A Transaction
  • B Turnover
  • C Transfer
  • D Cash received
View Answer & Explanation
Question 5:
Benefit enjoyed for which payments have not been made are?
  • A Accruals
  • B Prepayments
  • C Acquisitions
  • D Provisions
View Answer & Explanation