Post Utme Accounts - Principles of Accounts Questions
Question 26:
Which of the following is not a revenue account?
- A Sales
- B Purchases
- C Discount received
- D Interest received
Question 27:
A system where a separate cash book is maintained for small payments is ____
- A Single entry
- B Imprest
- C Float
- D Reimbursement
Question 28:
An analytical cash book is used to ____
- A Indicate sources of cash received
- B Categorise petty cash payment
- C Separate cash and bank balance
- D Analyse amounts due from debtors
Question 29:
The sum of money given to a petty cashier out of which small payments are made is called ___
- A Bonus
- B Loan
- C Advance
- D Float
Question 30:
A rent of 250,000 naira was paid by John to his landlord by cheque. The double entry in John’s books is ____
- A Debit Rent account, credit Bank account
- B Debit Rent account, credit John’s account
- C Debit Bank account, credit Rent account
- D Debit John's account, credit Rent account