Jamb Accounts - Principles of Accounts 2010 Past Questions and Answers

Question 11:

• JAMB 2010

The course of discrepancies between the bank statement and the cash book that overstates the cash book is the?

A. Dividend received
B. Uncredited expenses
C. Uncredited cheques
D. Interest on lodgement

Question 12:

• JAMB 2010

Th major feature of an invoice is that, it?

A. Passes information through the sales day book
B. Has cash and bank column
C. Specifies the particular of goods bought
D. Indicates only the cash sales

Question 13:

• JAMB 2010

Use the information below to answer question
Sales....................................N10,900
Stock 1/1................................N1, 000
Stock 31/12..............................N2, 000
Purchases................................N4, 000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200
Find the gross profit.

A. N7 800
B. N7 900
C. N9700
D. 5700

Question 14:

• JAMB 2010

Use the information below to answer question
Sales....................................N10,900
Stock 1/1................................N1, 000
Stock 31/12..............................N2, 000
Purchases................................N4, 000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200
The cost of goods available for sale is?

A. N4 600
B. N5 000
C. N6 400
D. N4 400

Question 15:

• JAMB 2010

Benefit enjoyed for which payments have not been made are?

A. Accruals
B. Prepayments
C. Acquisitions
D. Provisions