Jamb Accounts - Principles of Accounts 2011 Past Questions and Answers

Question 11:

• JAMB 2011

In bank reconciliation process, discrepancies cause by timing arises as a result of?

A. Cash book bank statement
B. Bank statement only
C. Cash book, bank statement and other incidental records
D. Cash book only

Question 12:

• JAMB 2011

The process of reconciling cheques between banks is termed cheque?

A. Clearing
B. Truncation
C. Holding
D. Confirmation

Question 13:

• JAMB 2011

In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?

A. Balance as per bank statement
B. Bank balance as per adjusted cash book
C. Aggregate balance as per cash book
D. Bank balance as per cash book

Question 14:

• JAMB 2011

Use the information below to answer question
i) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank
Determine the current liabilities?

A. Iii and v
B. Ii and iii
C. Iv and v
D. I and ii

Question 15:

• JAMB 2011

Use the information below to answer question
i) Stock of goods
ii) Furniture
iii)Creditors
iv) Cash at bank
v) Loan from the bank
Find the current assets?

A. Iii and v
B. Ii and i
C. Iv and v
D. I and iv