Cashbook - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 1:

• JAMB 1994

The term "accounting period" is used to refer to the

A. Time span during which taxes are paid to the inland revenue board
B. Budget period, usually one year, relied on by the accountant
C. Time span, usually one year, covered by financial statement
D. Period within which debtors are expected to settle accounts

Question 2:

• JAMB 1998

The total of the discounts received column in the cash book is posted to the?

A. Credit of the discounts received account
B. Debit of the discounts allowed account
C. Credit of the discounts allowed accoun
D. Debit of the discounts received account

Question 3:

• JAMB 1998

Use the information below to answer questions 11 and 12.
The initial imprest as at July Ist was N500. Petty cash vouchers with the custodian by July 15th added up to N394. An IOU slip received from a co-worker was N65 and there was a shortage of N5 cash. The co-worker made refund on July 18th just before the imprest was replenished.
What was the actual cash in the till as at 15th July?

A. N106
B. N101
C. N70
D. N36

Question 4:

• JAMB 1998

The amount required to replenish the payments made from the imprest was?

A. N399
B. N394
C. N358
D. N101

Question 5:

• JAMB 1999

In a cash book, the opening balance was N7,600, closing balance N9,200 and the total cash received during the period was N18,000. What was the amount of cash paid out during the period?

A. N8,900
B. N9,800
C. N14,600
D. N16,400