Principles of Double Entry - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 46:

• JAMB 2000

To write off bad debt, debt?

A. Debtor's account and credit provision for bad debt
B. Bad debt account and credit debtor's account
C. Debtor's account credit bad debt
D. Provision for bad debt account and credit debtor's account

Question 47:

• JAMB 2000

Which of the following is an example of intangible assets?

A. Trade debtors
B. Stock of goods
C. Trade creditors
D. Motor vehicles

Question 48:

• JAMB 2000

A source document that aids the ascertainment of amount paid out of current account is the?

A. Teller
B. Cheque stub
C. Cheque
D. Teller stub

Question 49:

• JAMB 2000

A general journal contains?

A. Date, narration, folio, debit, and purchases
B. Date, narration, folio, debit and purchase
C. Folio, credit, date, debit and sales
D. Debit, credit, narration, date and discount

Question 50:

• JAMB 2000

Which of the following errors will affect the trial balance total?

A. Posting disscount allowed to the debit side of the discount allowed account
B. Omision of one account from the list when extracting from the ledger
C. Failure to post sales of N2,000 and purchases of N2,000 from the subsidiiary ledger
D. Omission of sales of N3,000 and purchases of N2,000