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

Question 156:

• JAMB 2016

A receipt is an evidence of

A. Payments
B. Stocking
C. Delivery
D. Discounts

Question 157:

• JAMB 2016

Impersonal account is subdivided into

A. Real and nominal accounts
B. Nominal and personal accounts
C. Real and current accounts
D. Personal and real accounts

Question 158:

• JAMB 2016

When stock is withdrawn for personal use, the accounting entries is to debit

A. Stock account credit drawings
B. Drawing account, credit stock account
C. Personal account credit cash account
D. Cash account, credit personal account

Question 159:

• JAMB 2016

Alaka who owed Saka N15,000, settled his debt after deducting cash discount of 10%. To record the discount in the book of Saka, debit

A. Saka's account and credit discount received account
B. Alaka's account and credit discount received account
C. Discount received account and credit Alaka's account
D. Discount allowed account and credit Alaka's account

Question 160:

• JAMB 2017

Which of these is the subsidiary book for return inwards?

A. Sales day book
B. Sales return journal
C. Purchases day journal
D. Cash book