Jamb Accounts - Principles of Accounts 2020 Past Questions and Answers

Question 6:

• JAMB 2020

The standing order is a payment instruction given by a

A. Customer to a fellow customer
B. Bank to an employee
C. Customer to the bank
D. Bank to the customers

Question 7:

• JAMB 2020

The value of the sales ledger control account is derived from the summation of the

A. Total creditors control account
B. Total debtors control account
C. All day books
D. Both the debtors and creditors accounts

Question 8:

• JAMB 2020

The addition of prime cost, indirect cost and opening work- in-progress less the closing work-in-progress will result in cost of

A. Goods manufactured
B. Materials put into production
C. Goods available for sale
D. Goods sold

Question 9:

• JAMB 2020

The power to appoint the Auditor General of the Federation is vested in the

A. National Assembly
B. Civil Service Commission
C. Judicial Service Commission
D. President

Question 10:

• JAMB 2020

In trial balance, income and liabilities are

A. Credited
B. Credited and debited respectively
C. Debited and credited respectively
D. Debited