Accounts - Principles of Accounts Past Questions and Answers

Question 3186:

• JAMB 2023

Another name for control accounts is ____________

A. Total account
B. Purchases ledger
C. Creditors' account
D. Debtors' account

Question 3187:

• JAMB 2023

Which of the following concepts recognizes the principle of double entry?

A. Business entity
B. Accrual
C. Going concern
D. Dual aspect

Question 3188:

• JAMB 2023

Danladi Bako's Statement of Affairs as at 30/06/17

	₦		₦
Capital	??	Fixtures and fittings	4,000
		Stock	20,500
		Sundry debtors	40,000
Creditors	18,000	Bank	??
	78,650		78,650

What is his bank balance as at 30/06/17?

A. ₦14,150
B. ₦18,500
C. ₦15,300
D. ₦65,150

Question 3189:

• JAMB 2023

Danladi Bako's Statement of Affairs as at 30/06/17

	₦		₦
Capital	??	Fixtures and fittings	4,000
		Stock	20,500
		Sundry debtors	40,000
Creditors	18,000	Bank	??
	78650		78650

What is the value of Dalandi Bako's capital?

A. ₦60,150
B. ₦78,650
C. ₦50,160
D. ₦60,650

Question 3190:

• JAMB 2023

The accounting system in which only one aspect of transaction is recorded is ____________

A. Single entry
B. Single column cash book
C. Original entry
D. Double entry