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Question 1 of 10
When preparing a bank reconciliation statement, which of the following is deducted from the balance per bank statement?
JAMB Accounting Past Questions - Set 11
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 11 quiz contains 10 multiple choice questions designed to help you revise and test your Financial Accounting knowledge. Select an answer for each question and click “Submit Answer” to see instant feedback. Take your time and try to score as high as possible!
Description
Practice with real JAMB/WAEC Accounting past questions. Test your knowledge of bookkeeping, financial statements, and accounting principles. Set 11 covers questions from JAMB exams (2022).
Progress0 / 10 answered
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Question 2 of 10
The financial position of an organization at a particular time can be ascertained from the
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Question 3 of 10
Given; Purchases = N20,000 Sales = N40,000 Carriage inwards = N5,000 Carriage outwards = N5,000 Opening stock = N10,000 Closing stock = N5,000 What is the cost of goods sold?
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Question 4 of 10
The net profit or loss for the year is determined in profit and loss account after
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Question 5 of 10
If a bad debt previously written off is subsequently repaid, the amount collected is recorded as an
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Question 6 of 10
Beginning and ending accounts receivable balances were N8,000 and N15,000 respectively. If collections from customers during the period were N36,000, then total sales on account would be
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Question 7 of 10
From which of the following sources are creditors control account most likely to be posted?
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Question 8 of 10
Which of the following categories of labour cost will be classified as direct?
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Question 9 of 10
The major difference between the receipt and payment account and the income and expenditure account is that while the former
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Question 10 of 10
The net profit from a trading account of a non-profit making organization would be treated as income in the