Welcome to Schoolngr.com

Home   School   News   C B T   Classroom
Friday, 22 November 2024

RegisterLogin

Courses of discrepancies between cashbook and bank statement - Jamb Accounts - Principles of Accounts Past Questions and Answers

Exam year:
Question type:
Topics:

Jamb Accounts - Principles of Accounts Past Questions

Jamb Past Questions and Answers on Courses of discrepancies between cashbook and bank statement

Question 1:


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:


When the sum of money appears on the credit side of the cash book, but not on the debit side of the bank statement, the sum is regarded as

A. Uncredited cheques
B. Dishonoured cheques
C. Direct remittance to the bank
D. Unpresented cheques


Question 3:


State Bank collected a note for A-Makura Company. This collection, not yet recorded in AL-Makura's books, appears on the bank reconciliation as?

A. An addition to balance per book
B. A deduction from balance per bank statement
C. An addition to balance per bank statement
D. A deduction from balance per books


Question 4:


Which of the following bank reconciliation items should not be added or subtracted from the bank statement balance to determine the adjusted cash balance?

A. Outstanding cheques
B. Bank service charges
C. Deposit in the mail not yet received by the bank
D. Bank error, charging a company for another company's cheque


Question 5:


In order to make the cash book balance equal to the bank statement, it is usual to add?

A. Uncredited cheques
B. Direct payments by bank
C. Bank charges
D. Unpresented cheques






AboutContact usBack to Top
...

Disclaimer
All Views, Names, Acronyms, Trademarks, Expressed on this website are those of their respective owners. Please note that www.schoolngr.com is not affiliated with any of the institutions featured in this website. It is always recommended to visit an institutions or sources official website for more information. In the same vein, all comments placed here do not represent the opinion of schoolngr.com


SCHOOLNGR - © 2020 - 2024 - Tayo Hammed | Terms Of Service | Copyright | Privacy Policy