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Question 1 of 10
The corresponding entry of personal accounts found in the debit side of the cashbook is to
JAMB Accounting Past Questions - Set 16
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 16 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 16 covers questions from JAMB exams (2021).
Progress0 / 10 answered
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Question 2 of 10
Use the information below to answer this question Zahki Plc balance sheet (extract) as at 31st December 1997.
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Question 3 of 10
The prime cost is the total of the
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Question 4 of 10
Recurrent expenditures are expenses for the period not exceeding
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Question 5 of 10
A source document is used for verifying the
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Question 6 of 10
If goods are sent to branch at 25% on cost, what will be the cost of goods sent to the branch at a selling price of ₦100,000?
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Question 7 of 10
The purchase consideration that is lower than the net asset implies that, the buyer has gained the advantage of
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Question 8 of 10
Use the information below to answer this question At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of ₦180,000 it is however discovered that revenue of ₦15,000 is recorded as expenses while expenses of ₦4,000 is recorded as revenue.
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Question 9 of 10
The principle of double entry system ensures
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Question 10 of 10
The interest on partner's loan is