Jamb Accounts - Principles of Accounts 2016 Past Questions and Answers

Question 26:

• JAMB 2016

The costs of acquiring fixed assets and bringing them into the firm is a

A. General expenses
B. Recurrent expenditure
C. Revenue expenditure
D. Capital expenditure

Question 27:

• JAMB 2016

Impersonal account is subdivided into

A. Real and nominal accounts
B. Nominal and personal accounts
C. Real and current accounts
D. Personal and real accounts

Question 28:

• JAMB 2016

Opening balance of Diks company was #12,202, closing balance #15,300, total cash received during the period #40,000. What was the amount of cash paid during the same period?

A. #36,902
B. #27,502
C. #12,498
D. #43,098

Question 29:

• JAMB 2016

The total cash and cheques received from customers in a control account is derived from the

A. Income and expenditure account
B. Cashbook
C. Purchases day book
D. Sales journal

Question 30:

• JAMB 2016

Which of the foloowing is a credit item in creditors ledger control account?

A. Returns outwards
B. Discount Received
C. Bad debts
D. Purchases