Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 191:

• JAMB 1999

The need for changes in accounting theory in Nigeria was influenced by the?

A. Dynamics of commercialization and privatization policies
B. Growh in size of business units
C. Introduction of the structural adjustment programme
D. Inconvertibility of the nation's currency

Question 192:

• JAMB 1999

A bookkeeping error occurs when there is?

A. A deliberate manipulation of records
B. Unintentional correct posting in the ledger
C. Intentional failure to record transactions completely
D. Incorrect records and oversights that are not intended

Question 193:

• JAMB 1999

When a proprietor withdraws cash from the business for private use, he?

A. Debits cash account and credits drawings account
B. Credits cash account and debits bank account
C. Debits bank account and credits drawings account
D. Credits cash account and debits drawings account

Question 194:

• JAMB 1999

A basic unifying concept in accounting implies that?

A. Where creditors'account is zero, the assets are equal to the owners' equity
B. There should be a balance in the creditors' account in order to measure total assets
C. Revenues should be supported by invested and owners'capital
D. Total assets can be less than liabilities and equity

Question 195:

• JAMB 1999

A source document for the sales day book is?

A. A requisition form
B. An invoice
C. A customer advice
D. A credit advice