Jamb Accounts - Principles of Accounts 2014 Past Questions and Answers

Question 6:

• JAMB 2014

Which of the following affects the accuracy and authenticity of the trial balance?

A. Error of ommission
B. Error of commission
C. Error of transposition
D. Error of original entry

Question 7:

• JAMB 2014

A ledger is classified into

A. Private, sales and purchases
B. Personal, general and private
C. General, private and sales
D. Sales, purchases and general

Question 8:

• JAMB 2014

The book of account in which information from the source documents are recorded consists of

A. Debit and credit notes
B. Ledger and subsidiary books
C. Prepayments and accruals
D. Profit and loss and balance sheet

Question 9:

• JAMB 2014

The accounting entries to record a cheque issued by a business is to

A. Debit cash book and credit drawer
B. Credit cash book and debit drawer
C. Debit cash book and credit suspense account
D. Credit cash book and debit suspense account

Question 10:

• JAMB 2014

Given:
If Emeka Enterprises settles its suppliers for goods purchased within 7 days, it can earn a cash discount of 12 and half percent. Assuming #22,800 worth of goods were purchased and settled within 5 days, what will be the amount to be credited in the cash column of the company's cash book?

A. #25,650
B. #22,800
C. #19,950
D. #18,240