Jamb Accounting Past Questions For Year 2009
Question 6
The accounting convention which states that the performance of a business should be determined by matching all expenses against revenues is?
- A. accruals
- B. materiality
- C. objectivity
- D. periodicity
Question 7
Cash discount is often recorded on?
- A. the debit side of the cash book
- B. the credit side of the cash book
- C. the folio column of the cash book
- D. both credit and debit side of the cash book
Question 8
| Period 1 | N |
| Cash to petty cashier | 1000 |
| Petty cashier pays out | 780 |
| Period 2 | |
| Petty cashier pays out | 840 |
- A. 220
- B. 780
- C. 980
- D. 1780
Question 9
Use the information above to answer question
Period 1:
........Cash to petty cashier.............N1000
........Petty cashier pays out............N780
Period 2:
........Petty cashier pays out............N840
If the float is increased to N1200, how much should the petty cashier receive after period 2?
- A. 160
- B. 840
- C. 1000
- D. 1040
Question 10
Use the information to answer below to answer questions
i Operating machines
ii Furniture
iii Fixtures and fitting
iv Loan from friends
V Creditors
Find the fixed assets?
- A. i, ii and v
- B. i, ii and iv
- C. i, ii and iii
- D. iii, iv and v
