Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 891:

• JAMB 2013

The total credit sales for a period can be extracted from the

A. Cash book
B. Sales day book
C. Petty cash book
D. Returns inwards

Question 892:

• JAMB 2013

The major source document which enables an employer to calculate the employee wages is the

A. Nominal roll of employees
B. Record of number of hours worked
C. Effort of the employee
D. Record of number of dependants per employee

Question 893:

• JAMB 2013

Which of the following items is a capital expenditure?

A. Maintenance of office machine
B. Purchase of office stationery
C. Carriage inwards
D. Purchase of office machinery

Question 894:

• JAMB 2013

The corresponding entry of personal accounts found in the debit side of the cash is to

A. Credit real accounts
B. Debit real accounts
C. Credit the ledger
D. Debit the ledger

Question 895:

• JAMB 2013

Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent. To record the discount in the book of Saka, debit


A. Discount recieved account and credit Alaka's account
B. Alaka's account and credit discount recieved account
C. Saka's account and credit discount recieved account
D. Discount allowed account and credit Alaka's account