Jamb Accounts - Principles of Accounts 2023 Past Questions and Answers

Question 26:

• JAMB 2023

	₦
Balance as per cash book	5467
Uncredited cheques	4410
Unpresented cheques	19404

The balance as per bank statement is ____________

A. ₦20,461
B. ₦21,091
C. ₦21,109
D. ₦19,021

Question 27:

• JAMB 2023

When goods are received from head office, head office will be credited while ____________

A. Sales will be debited
B. Requisition will be debited
C. Issue will be debited
D. Purchases will be debited

Question 28:

• JAMB 2023

Changes in the profit sharing ratio may occur as a result of

I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase

A. I, III and IV
B. I and III
C. I, II and III
D. I, II and IV

Question 29:

• JAMB 2023

Given:
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases

The item on the credit side of purchase ledger control account includes

A. I, II and IV only
B. I and IV only
C. I and II only
D. I, II and III only

Question 30:

• JAMB 2023

Given:

I. It records subscription in arrears
II. Payments of liabilities is effected
III. The account does not show if cash payment is revenue or capital expenditure
IV. It performs the same function as cash book

The features of receipts and payment account includes:

A. III and IV
B. I, II and IV
C. II, III and IV
D. I, II and III