Jamb Accounting Past Questions For Year 2013
Question 6
i The amount of the imprest is the same from one organization to another
ii.At the end of a fixed period, the petty cashier received a fixed sum of money.
iii At the end of a period, the petty cashier is reimbursed with the amount spent in that period.
iv The system is a method by which a measure of control is kept on petty cash expenses.
Which of the above is correct about the imprest system?
- A. i, ii and iii
- B. i, iii and iv
- C. i, ii and iv
- D. iii and iv
Question 7
Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent. To record the discount in the book of Saka, debit
- A. discount recieved account and credit Alaka's account
- B. Alaka's account and credit discount recieved account
- C. Saka's account and credit discount recieved account
- D. discount allowed account and credit Alaka's account
Question 8
The corresponding entry of personal accounts found in the debit side of the cash is to
- A. credit real accounts
- B. debit real accounts
- C. credit the ledger
- D. debit the ledger
Question 9
Which of the following items is a capital expenditure?
- A. Maintenance of office machine
- B. Purchase of office stationery
- C. Carriage inwards
- D. Purchase of office machinery
Question 10
The major source document which enables an employer to calculate the employee wages is the
- A. nominal roll of employees
- B. record of number of hours worked
- C. effort of the employee
- D. record of number of dependants per employee
