Jamb Accounts - Principles of Accounts 2009 Past Questions and Answers

Question 1:

• JAMB 2009

Which of the following branches of accounting was first developed?

A. Cost accounting
B. Financial acounting
C. Management accounting
D. Petroleum accounting

Question 2:

• JAMB 2009

Which of the following branches of accounting was first developed?

A. Cost accounting
B. Financial acounting
C. Management accounting
D. Petroleum accounting

Question 3:

• JAMB 2009

The accounting convention which states that the performance of a business should be determined by matching all expenses against revenues is?

A. Accruals
B. Materiality
C. Objectivity
D. Periodicity

Question 4:

• JAMB 2009

The process of bookkeeping includes records produced from?

A. Ledgers
B. Source documents
C. Minutes of meeting
D. Intuitive reasoning

Question 5:

• JAMB 2009

Musa, a prepaid customer of XYZ and KLM, bought N1500 recharge card from XYZ, and N2000 recharge recharge card from KLM, for business calls. The entry to record these transaction is debit?

A. Telephone N3,500 credit XYZ and KLM, N3,500
B. Telephone N3,500, credit cash N3,500
C. Sundries N3,500, credit KLM N3,500
D. Sundries N3,500, credit telephone N3,500