Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 246:

• JAMB 2000

A source document that aids the ascertainment of amount paid out of current account is the?

A. Teller
B. Cheque stub
C. Cheque
D. Teller stub

Question 247:

• JAMB 2000

The most convenient cash book used by a petty trader operating in an area where there is no banking facility is?

A. Four column
B. Three column
C. Single column
D. Two column

Question 248:

• JAMB 2000

A general journal contains?

A. Date, narration, folio, debit, and purchases
B. Date, narration, folio, debit and purchase
C. Folio, credit, date, debit and sales
D. Debit, credit, narration, date and discount

Question 249:

• JAMB 2000

Which of the following errors will affect the trial balance total?

A. Posting disscount allowed to the debit side of the discount allowed account
B. Omision of one account from the list when extracting from the ledger
C. Failure to post sales of N2,000 and purchases of N2,000 from the subsidiiary ledger
D. Omission of sales of N3,000 and purchases of N2,000

Question 250:

• JAMB 2000

An expenses account is closed by a debit to?

A. An asset account and a credit to the expenses account
B. The expenses account and a credit to an asset account
C. Profit and loss account and a creit to the expenses account
D. The expenses account and a credit to profit and loss account