2016 - JAMB Accounting Past Questions and Answers - page 3

The major sources of revenue for the state and local governments is

1. The amount of the imprest is the same from one organization to another.

2. At the end of a fixed period, the petty cashier received a fixed sum of money.

3. At the end of a period, the petty cashier is reimbursed with the amount spent in that period.

4. The system is a method by which a measure of control is kept on petty cash expenses.

Which of the following is correct about the imprest system?

When the fixed capital method is used, the partners' share of profits and remunerations are credited to the

A discount that is allowed to encourage a debtor to pay off his debt within a period is the

The costs of acquiring fixed assets and bringing them into the firm is a

Impersonal account is subdivided into

Opening balance of Dikscompany was #12,202, closing balance #15,300, total cash received during the period #40,000. What wasthe amount of cash paid during the same period?

The total cash and cheques received from customers in a control account is derived from the

Which of the foloowing is a credit item in creditors ledger control account?

The trader is capital in a single entry system is ascertained by preparing