Jamb Accounting Past Questions For Year 2011
Question 6
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?
- A. ii, i and iii
- B. i, iii and ii
- C. ii, iii and i
- D. i, ii and iii
Question 7
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
Question 8
In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?
- A. balance as per bank statement
- B. bank balance as per adjusted cash book
- C. aggregate balance as per cash book
- D. bank balance as per cash book
Question 9
The process of reconciling cheques between banks is termed cheque?
- A. clearing
- B. truncation
- C. holding
- D. confirmation
Question 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
