Jamb Accounting Past Questions For Year 1998
Question 11
The amount required to replenish the payments made from the imprest was?
- A. N399
- B. N394
- C. N358
- D. N101
Question 12
Use the information below to answer questions 11 and 12.
The initial imprest as at July Ist was N500. Petty cash vouchers with the custodian by July 15th added up to N394. An IOU slip received from a co-worker was N65 and there was a shortage of N5 cash. The co-worker made refund on July 18th just before the imprest was replenished.
What was the actual cash in the till as at 15th July?
- A. N106
- B. N101
- C. N70
- D. N36
Question 13
The total of the discounts received column in the cash book is posted to the?
- A. credit of the discounts received account
- B. debit of the discounts allowed account
- C. credit of the discounts allowed account
- D. debit of the discounts received account
Question 14
A powerful instrument of control over both the sales ledger and the clek whose duty is to post the ledger is the?
- A. total debtors account
- B. purchase day book
- C. sales day book
- D. cash book
Question 15
The balance on a purchase ledger control account represents the?
- A. present amount that a business owes its suppliers at date
- B. total credit avaiable to the end of the year to be utilized in future
- C. total credit the business enjoyed for the particular year from its suppliers
- D. total credit owd the business by its customers
