Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 341:

• JAMB 2002

In a petty cash book the imprest is N1380.
Expenses:
Stationery N350
Cleaning material N335
General expenses N265
How much was received to maintain the imprest at the ends of the month?

A. N950
B. N970
C. N430
D. N380

Question 342:

• JAMB 2002

An entry in a subsidiary book which does not form part of the double entry system is a?

A. Contra entry
B. Journal entry
C. Single entry
D. Memorandum entry

Question 343:

• JAMB 2002

In an incomplete record, the preparation of the bank reconciliation ensures that?

A. All cash taking are banked
B. The cash book is correct
C. There are no overdrafts
D. There are no hidden loans

Question 344:

• JAMB 2002

In a petty cash book the imprest is N1380.
Expenses:
Stationery N350
Cleaning material N335
General expenses N265
How much was received to maintain the imprest at the ends of the month?

A. N950
B. N970
C. N430
D. N380

Question 345:

• JAMB 2002

(i) Fixtures account (ii) Machinery account
(iii) Wages accounts (iv) Rent account.
Which of the above are nominal account?

A. Iii and iv
B. I and ii
C. I and iii
D. Ii and iii