Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 791:

• JAMB 2011

In a trial balance, income and liabilities are?

A. Debited and credited respectively
B. Credited
C. Credited and debited respectively
D. Debited

Question 792:

• JAMB 2011

The principle of double entry system ensures?

A. Mathematical accuracy in trial balance
B. Balances at the bank
C. Increase in the assets and liabilities
D. Balance of cash account

Question 793:

• JAMB 2011

i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure
The correct procedure for balancing account is?

A. Ii, i and iii
B. I, iii and ii
C. Ii, iii and i
D. I, ii and iii

Question 794:

• JAMB 2011

Given:
Light expenses...................N400
Purchases........................N3,000
Sales............................N1,200
Creditors........................N2,250
Debtors..........................N50
Calculate the total of the trial balance?

A. N4,250
B. N3,500
C. N4,300
D. N3,450

Question 795:

• JAMB 2011

The major feature of a journal is that it has?

A. Six columns, date, particulars, folio, amount, debit and credit
B. Five columns, date particulars, folio, debit and credit
C. Three columns, date particulars and folio
D. Four columns, date particulars, folio and amount