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

Question 161:

• JAMB 2017

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 162:

• JAMB 2017

The principle of double entry developed from the axioms of accounting equation is given as

A. Assets + Liability = Equity
B. Assets + Equity = Liabilities
C. Liabilities + Equity = Asset
D. Liabilities + Equity = Net assets

Question 163:

• JAMB 2017

The correct expression of accounting equation is

A. Assets = Liabilities + Equity
B. Net assets = Liabilities + Equity
C. Assets + Liabilities = Equity
D. Assets = Equity - liabilities

Question 164:

• JAMB 2018

The major source of document which enables employer to calculate the employee wages is the?

A. Norminal roll of employees
B. Records of number of hours worked
C. Effort of the employee
D. Record of independence per employee

Question 165:

• JAMB 2018

The total credit sales for a period can be extracted from the?

A. Cash book
B. Sales day book
C. Petty cash book
D. Returns inwards