Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 1136:

• JAMB 2017

Given:
I. Settlement of debts
II. Cessation of business
III. Introduction of assets
IV. Disposal of assets
Which of these constitutes dissolution of partnership?

A. II and IV only
B. I,II and IV only
C. I,II and III only
D. II,III and IV only

Question 1137:

• JAMB 2017

The use of a three column cash book is determined by

A. Cash discount
B. Trade discount
C. Cash transaction
D. Bank transaction

Question 1138:

• JAMB 2017

The discount column on the left-hand side of cashbook represents a discount

A. Received from a creditor
B. Allowed to a debtor
C. Received from a debtor
D. Allowed to a creditor

Question 1139:

• JAMB 2017

Which of the following is used to service all operations of government?

A. Consolidated Revenue Fund
B. Consolidated Reserve Fund
C. Special Operational Fund
D. General-Reserve Fund

Question 1140:

• JAMB 2017

\(\begin{array}{c|c} & \text{N} \\ \hline \text{Balance as per cashbook} & 5 467 \\ \hline \text{Uncredited cheques} & 4 410 \\ \hline \text{Unpresented cheque} & 19 404 \\ \hline \text{Cheques wrongly debited by bank} & 1 440
\end{array}\)

A. ₦4207
B. ₦9527
C. ₦6907
D. ₦9877