# 2011 - JAMB Accounting Past Questions & 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
CORRECT OPTION: a
2
In a trial balance, income and liabilities are?
A
debited and credited respectively
B
credited
C
credited and debited respectively
D
debited
CORRECT OPTION: b
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
CORRECT OPTION: a
4
i) Deducted the smaller side figure from the bigger side figure .
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
CORRECT OPTION: b
5
Given:

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
CORRECT OPTION: d
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
CORRECT OPTION: b
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
CORRECT OPTION: b
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?
A
N260
B
N300
C
N200
D
N380
CORRECT OPTION: b
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?
A
N60
B
N90
C
N40
D
N100
CORRECT OPTION: a
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
CORRECT OPTION: a
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