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Jamb Accounts - Principles of Accounts Past QuestionsQuestion 1121:Which of these is the main source document for recording cash paid into bank? A. Invoice B. Cheque book C. Credit note D. Pay-in-slip Question 1122:Given: I. It records subscription in arrears II. Payments of liabilities is effected III. The account does not show if cash payment is revenue or capital expenditure IV. It performs the same function as cashbook The features of receipts and payment account includes A. I,II and IV B. II,III and IV C. III and IV D. I,II and III Question 1123:The movement of goods from head office to a branch is treated in the head office as A. Sales B. Issue C. Purchases D. Requisition Question 1124:The following are the importance of branch account except A. It enable the organization to determine the branch that is making either profit or loss B. It allows proper control over the branch by the head office C. It assist the organization to determine the performance of a branch manager D. It allows fraud and wastage of resources Question 1125:The current growth in the volume of trading and financial dealing in Nigeria is helped by A. Increased financial activities B. Government intervention C. Credit as a factor in business D. Payment for goods in cash |
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