Jamb Accounting Past Questions For Year 1997
Question 11
When the sum of money appears on the credit side of the cash book, but not on the debit side of the bank statement, the sum is regarded as
- A. uncredited cheques
- B. dishonoured cheques
- C. direct remittance to the bank
- D. unpresented cheques
Question 12
Which of the following demonstrates the imprest system?
- A. Float â expenses paid â cash in bank â float
- B. Float â cash from bank â expenses paid â float
- C. Float â expenses paidâ cash from bank â float
- D. Float â cash in bank â expenses paid â float
Question 13
Erroneous rearrangement of financial figures such as writing N624 as N 264 is called
- A. transposition
- B. principle
- C. commission
- D. omission
Question 14
Given: capital N13,000; office machinery, N9,000; creditors N900, stock of goods N1,550; debtors, N275; cash at bank, N5,075 and loan from Jumbo, N2,000. What is the balance sheet total?
- A. N19,500
- B. N18,500
- C. N17,900
- D. N15,900
Question 15
Given:
Net profit-----------------------N25,000
Cost of sale---------------------N25,000
Sales----------------------------N85,000
Determine the total expenses.
- A. N45,000
- B. N35,000
- C. N25,000
- D. N15,000
