2011 - JAMB Accounting Past Questions and Answers - page 1
1
The historical development of accounting reveals that it?
A
deals with debit and credit of items
B
is a product of financial development
C
is a product of its own evironmnent
D
is an ideal subject for finacial development
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2
In a trial balance, income and liabilities are?
A
debited and credited respectively
B
credited
C
credited and debited respectively
D
debited
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3
The principle of double entry system ensures?
A
mathematical accuracy in trial balance
B
balances at the bank
C
increase in the assets and liabilities
D
balance of cash account
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4
i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure
The correct procedure for balancing account is?
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure
The correct procedure for balancing account is?
A
ii, i and iii
B
i, iii and ii
C
ii, iii and i
D
i, ii and iii
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5
Given:
Light expenses...................N400
Purchases........................N3,000
Sales............................N1,200
Creditors........................N2,250
Debtors..........................N50
Calculate the total of the trial balance?
Light expenses...................N400
Purchases........................N3,000
Sales............................N1,200
Creditors........................N2,250
Debtors..........................N50
Calculate the total of the trial balance?
A
N4,250
B
N3,500
C
N4,300
D
N3,450
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6
The major feature of a journal is that it has?
A
six columns, date, particulars, folio, amount, debit and credit
B
five columns, date particulars, folio, debit and credit
C
three columns, date particulars and folio
D
four columns, date particulars, folio and amount
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7
The medium of correcting errors whose differences are shown in the trial balance is by the use of?
A
debtors' account
B
creditor's account
C
suspense account
D
ledger account
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8
Use the information below to answer question .
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Find the total amount paid?
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Find the total amount paid?
A
N260
B
N300
C
N200
D
N380
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9
Use the information below to answer question .
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Calculate the cash discount?
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.
Calculate the cash discount?
A
N60
B
N90
C
N40
D
N100
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10
In bank reconciliation process, discrepancies cause by timing arises as a result of?
A
cash book bank statement
B
bank statement only
C
cash book, bank statement and other incidental records
D
cash book only
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