Functions of source documents - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 6:

• JAMB 1997

In the absence of a sales day book or sales account the credit for sales can be computed from

A. Creditors control account
B. Debtors control account
C. Opening figures of the balance sheet
D. Closing figures of the balance sheet

Question 7:

• JAMB 1999

A source document for the sales day book is?

A. A requisition form
B. An invoice
C. A customer advice
D. A credit advice

Question 8:

• JAMB 1999

A provision for bad debt account had N3,800 at the beginning of the year and N4,220 at the close of the year. If bad debts are calculated at the rate of 1/2% of annual sales, what was the credit sales for the period?

A. N2,100,000
B. N844,400
C. N840,000
D. N500,000

Question 9:

• 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 10:

• JAMB 2004

A source document is used for verifying the?

A. Amount due to creditors
B. Actual cost of an asset
C. Selling price of goods
D. Amount due from debtors