Bank Transactions and Reconciliation Statements - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 21:

• JAMB 2007

If cheques of N40 000 were received but a cheque of N8 000 was dishonoured, the amount owed was

A. N9 000
B. N20 000
C. N 1000
D. N17 000

Question 22:

• JAMB 2008

Commission-on-turnover is charged on?

A. Current accounts only
B. Savings accounts only
C. Fixed deposit accounts only
D. All bank accounts

Question 23:

• JAMB 2008

The medium that enables the ATM to read the account details and process transaction directly with the account held in the bank is the?

A. Smart card
B. Communication network
C. Magnetic strip
D. Computerized account

Question 24:

• JAMB 2008

Given that the balance as per cash book after adjustment was N6315, nu-presented cheques N1000 and the bank statement balance N3240. What was the balance of the nu-credited cheques?

A. N4075
B. N4240
C. N3315
D. N3075

Question 25:

• JAMB 2009

The standing order is a payment instruction given by a?

A. Customer to the bank
B. Bank to the customer
C. Bank to an employee
D. Customer to a fellow customer