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Tuesday, 16 June 2026
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Accounts - Principles of Accounts Past Questions and Answers

Post Utme Accounts - Principles of Accounts Questions

Question 121:
A cheque which has been sent but has not yet gone through the bank account of the receiver of it is known as ____________
  • A Dishonoured cheque
  • B Unrepresented cheque
  • C Uncredited cheque
  • D Unhonoured cheque
View Answer & Explanation
Question 122:
Which of the following does not appear in a bank statement ____________
  • A Uncredited cheque
  • B Bank charges
  • C Dishonoured cheques
  • D Dividend received on behalf of customer
View Answer & Explanation
Question 123:
Where a correct amount is entered, but in the wrong person"s account. is an error of ____________
  • A Principle
  • B Omission
  • C Commission
  • D Compensation
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Question 124:
A credit balance of \(N350.000\) in a cash account shows that ____________
  • A \(N 350.000\) was the total cash received
  • B N\(350.000\) was the total cash paid out
  • C Cash at hand equals \(\mathrm{N} 350.000\)
  • D \(N 350.000\) was the cash overspent
View Answer & Explanation
Question 125:
Prime cost is ____________
  • A Direct cost of production
  • B Cost of raw materials consumed
  • C Cost of raw materials purchased
  • D Indirect cost of production
View Answer & Explanation