Jamb Accounts - Principles of Accounts 2018 Past Questions and Answers

Question 86:

• JAMB 2018

Kakaku limited with three departments has a total of N7,200,000 as net debtors for the year ended 31/12/2106. The company's policy, provides for 15%bad debt annually. Which of the following represents the total balance of debtors before adjustment?

A. N6,120,000
B. N8,280,000
C. N6,120,300
D. N8,820,000

Question 87:

• JAMB 2018

The basic role of accounting is to?

A. Detect fraud
B. Attest to financial statements
C. Measure performance
D. Protect shareholders

Question 88:

• JAMB 2018

The fixed amount of money given to a petty cashier at the beginning of a period is called?

A. Imprest
B. Float
C. Cash advance
D. Cash