Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 846:

• JAMB 2012

In a three-column cash book, dishonored cheques will be shown on the

A. Bank column (debit)
B. Bank column(credit)
C. Cash column(debit)
D. Cash column(credit)

Question 847:

• JAMB 2012

Cash can be drawn from the bank using

A. A bank teller
B. A credit card
C. A recharge card
D. ATM card

Question 848:

• JAMB 2012

In a modern day banking system, cash transfer cannot be made where the transferor

A. Has no sufficient cash with the bank
B. Has no account with the bank
C. Does not reside in the bank's country
D. Does not possess the domestic currency

Question 849:

• JAMB 2012

Given:
Cash book balance- #5000
Dishonored cheque- #1000
Direct credit - # 800
Direct debit - # 500
The adjusted cash book balance is

A. #6,300
B. #4,300
C. #3,700
D. #2,700

Question 850:

• JAMB 2012

At the end of a financial period, the trading
profit and loss account of a sole trader
shows a profit of #180,000. it is however
discovered that revenue of #15,000 is
recorded as expenses while expenses of
#4,000 is recorded as revenue.
Determine the adjusted net profit

A. #210,000
B. #202,000
C. #195,000
D. #184,000