Jamb Accounts - Principles of Accounts 2011 Past Questions and Answers

Question 1:

• JAMB 2011

The historical development of accounting reveals that it?

A. Deals with debit and credit of items
B. Is a product of financial development
C. Is a product of its own evironmnent
D. Is an ideal subject for finacial development

Question 2:

• JAMB 2011

The historical development of accounting reveals that it?

A. Deals with debit and credit of items
B. Is a product of financial development
C. Is a product of its own evironmnent
D. Is an ideal subject for finacial development

Question 3:

• JAMB 2011

In a trial balance, income and liabilities are?

A. Debited and credited respectively
B. Credited
C. Credited and debited respectively
D. Debited

Question 4:

• JAMB 2011

The principle of double entry system ensures?

A. Mathematical accuracy in trial balance
B. Balances at the bank
C. Increase in the assets and liabilities
D. Balance of cash account

Question 5:

• JAMB 2011

i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure
The correct procedure for balancing account is?

A. Ii, i and iii
B. I, iii and ii
C. Ii, iii and i
D. I, ii and iii