Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 886:

• JAMB 2013

Accounting information seeks to provide

A. Permanent records for all transactions
B. Analysis of accounts to trade debtors
C. Audited reports on the accounts of a company
D. Data about the employees of a company

Question 887:

• JAMB 2013

Accounting information seeks to provide

A. Permanent records for all transactions
B. Analysis of accounts to trade debtors
C. Audited reports on the accounts of a company
D. Data about the employees of a company

Question 888:

• JAMB 2013

When the debit side total of an account, it means that the account has

A. Been overdrawn
B. Been understand
C. Debit balance
D. Credit balance

Question 889:

• JAMB 2013

July 1 - Started business with #10,500
July 31- Paid Agromachinex #6,000 owing
them
The double entry for July 1 would be

A. Debit capital and credit cash
B. Credit cash and debit bank
C. Debit cash and credit capital
D. Debit purchases and credit cash

Question 890:

• JAMB 2013

July 1 - Started business with #10,500
July 31- Paid Agro machine x #6,000 owing them
The double entry for July 31 would be

A. Debit Agromachinex and credit cash
B. Debit equipment and credit Agromachinex
C. Credit capital and debit cash
D. Credit cash and debit purchases