Jamb Accounts - Principles of Accounts 2019 Past Questions and Answers

Question 1:

• JAMB 2019

Transactions are recorded or posted to the ledger in line with

A. Accounting Concept
B. Source document
C. Double Entry Principle
D. Data collection

Question 2:

• JAMB 2019

Transactions are recorded or posted to the ledger in line with

A. Accounting Concept
B. Source document
C. Double Entry Principle
D. Data collection

Question 3:

• JAMB 2019

Show how the following transaction will be recorded applying the double entry principle:
Rent ₦50,000 was paid by Mr. Roi to his landlord on 1st July, 20 à— 7 by cheque.

A. Dr Rent A/c; Dr Bank A/c
B. Dr Bank A/c; Cr Rent A/c
C. Dr Rent A/c; Cr Bank A/c
D. Dr Rent A/c; Cr Mr. Roi

Question 4:

• JAMB 2019

A statement in a double entry system in which are recorded all the transactions of one specific class, which takes place during the period is called

A. Double entry system
B. Ledger
C. Cash Book
D. Petty Cash Book

Question 5:

• JAMB 2019

The advantage of double entry is that

A. It is easy to prepare the final account
B. It increase assets
C. Has cash and bank column
D. It disburses cash