Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 1236:

• JAMB 2018

The basic role of accounting is to?

A. Detect fraud
B. Attest to financial statements
C. Measure performance
D. Protect shareholders

Question 1237:

• JAMB 2018

The fixed amount of money given to a petty cashier at the beginning of a period is called?

A. Imprest
B. Float
C. Cash advance
D. Cash

Question 1238:

• JAMB 2019

Transactions are recorded or posted to the ledger in line with

A. Accounting Concept
B. Source document
C. Double Entry Principle
D. Data collection

Question 1239:

• JAMB 2019

Transactions are recorded or posted to the ledger in line with

A. Accounting Concept
B. Source document
C. Double Entry Principle
D. Data collection

Question 1240:

• JAMB 2019

Show how the following transaction will be recorded applying the double entry principle:
Rent ₦50,000 was paid by Mr. Roi to his landlord on 1st July, 20 à— 7 by cheque.

A. Dr Rent A/c; Dr Bank A/c
B. Dr Bank A/c; Cr Rent A/c
C. Dr Rent A/c; Cr Bank A/c
D. Dr Rent A/c; Cr Mr. Roi