Jamb Accounts - Principles of Accounts 2023 Past Questions and Answers

Question 66:

• JAMB 2023

Danladi Bako's Statement of Affairs as at 30/06/17

	₦		₦
Capital	??	Fixtures and fittings	4,000
		Stock	20,500
		Sundry debtors	40,000
Creditors	18,000	Bank	??
	78,650		78,650

What is his bank balance as at 30/06/17?

A. ₦14,150
B. ₦18,500
C. ₦15,300
D. ₦65,150

Question 67:

• JAMB 2023

Danladi Bako's Statement of Affairs as at 30/06/17

	₦		₦
Capital	??	Fixtures and fittings	4,000
		Stock	20,500
		Sundry debtors	40,000
Creditors	18,000	Bank	??
	78650		78650

What is the value of Dalandi Bako's capital?

A. ₦60,150
B. ₦78,650
C. ₦50,160
D. ₦60,650

Question 68:

• JAMB 2023

The accounting system in which only one aspect of transaction is recorded is ____________

A. Single entry
B. Single column cash book
C. Original entry
D. Double entry

Question 69:

• JAMB 2023

Which of the following is used in the public sector to monitor or control government expenditure?

A. Sales day book
B. Cash book
C. Cheque
D. Vote book

Question 70:

• JAMB 2023

Profit expressed in relation to cost of goods sold is ____________

A. Turnover
B. Cost price
C. Margin
D. Mark -up