Jamb Accounting Past Questions For Year 2008
Question 6
Bariga, a stock broker bought stationery for N 12000 by cash. To record this transaction, debit?
- A. cash and credit stationery
- B. purchase and credit stationery
- C. stationery and credit cash
- D. stationery and credit purchases
Question 7
Given:
Sales.....................N4000
Light expenses............N2900
Rent......................N1500
Purchases.................N7500
Debtors...................N6000
Creditors.................N29000
Drawings..................N25
Bank......................N400
General expenses..........N1500
Calculate the total of trial balance?
- A. N64 300
- B. N46 825
- C. N41 850
- D. N33 325
Question 8
One basic assumption of the double entry theory is that it allows?
- A. two credit entries at the same time
- B. two debit entries at the same time
- C. debit and credit two credit entries at the same time
- D. debit and credit two credit entries in corresponding account
Question 9
The medium that enables the ATM to read the account details and process transaction directly with the account held in the bank is the?
- A. smart card
- B. communication network
- C. magnetic strip
- D. computerized account
Question 10
Commission-on-turnover is charged on?
- A. current accounts only
- B. savings accounts only
- C. fixed deposit accounts only
- D. all bank accounts
