Post Utme University of Ibadan Accounts - Principles of Accounts Past Questions and Answers

Question 16:

The correct sequence in data processing is ___________

A. Input \(rightarrow\) process \(rightarrow\) output \(
B. Input \(rightarrow\) output \(rightarrow\) process
C. Process \(rightarrow\) input \(rightarrow\) output
D. Process \(rightarrow\) output \(rightarrow\) input

Question 17:

When a sum of money appears on the credit side of the cash book, but not on the debit side of the bank statement, the sum is regarded as ___________

A. Uncredited cheques
B. Dishonoured cheques
C. Direct remitance to the bank
D. Unpresented cheques

Question 18:

Which of the following is not a data processing method?

A. Manual
B. Mechanical
C. Electronic
D. Formatting

Question 19:

Fatima withdraws goods from the business for personal use.
The accounting treatment is to debit ___________

A. Stock account and credit profit and loss account
B. Drawings account and credit stock account
C. Profit and loss account and credit drawings account
D. Stock account and credit drawings account

Question 20:

Given N Net Profit 25,000, Cost of sales 25,000 , Sales 85,000 , Determine the total expenses ___________

A. N 45,000
B. N 35,000
C. N 25,000
D. N15,000