Principles of Double Entry - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 136:

• JAMB 2014

A ledger is classified into

A. Private, sales and purchases
B. Personal, general and private
C. General, private and sales
D. Sales, purchases and general

Question 137:

• JAMB 2014

The book of account in which information from the source documents are recorded consists of

A. Debit and credit notes
B. Ledger and subsidiary books
C. Prepayments and accruals
D. Profit and loss and balance sheet

Question 138:

• JAMB 2014

The accounting entries to record a cheque issued by a business is to

A. Debit cash book and credit drawer
B. Credit cash book and debit drawer
C. Debit cash book and credit suspense account
D. Credit cash book and debit suspense account

Question 139:

• JAMB 2014

Balance sheet (Extract)
Creditors #7,940
Prepaid expenses # 290
Accrual expenses # 323
Stock #4,500
Cash balance #4,956
Debtors # 905
The value of the current assets will be

A. #10,361
B. #10,651
C. #17,396
D. #17,848

Question 140:

• JAMB 2014

Balance sheet (Extract)
Creditors #7,940
Prepaid expenses # 290
Accrual expenses # 323
Stock #4,500
Cash balance #4,956
Debtors # 905
Determine the current liabilities

A. #8,553
B. #8,263
C. #7,940
D. #1,228