This JAMB Accounting Past Questions - Set 30 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!
Practice with real JAMB/WAEC Accounting past questions. Test your knowledge of bookkeeping, financial statements, and accounting principles. Set 30 covers questions from JAMB exams (2017).
Question 1 of 10
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Balance as per cashbook} & 5 467 \\ \hline \text{Uncredited cheques} & 4 410 \\ \hline \text{Unpresented cheques} & 19 404 \\ \hline \text{Cheques wrongly debited by bank} & 1 404 \end{array}\) The balance as per bank statement is
Question 2 of 10
The following appears in trading account except
Question 3 of 10
Goodwill can be created in the books of a partnership firm when
Question 4 of 10
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Debtors opening} & 4000 \\ \hline \text{Debtors clsoing} & 1500 \\ \hline \text{Cash received from debtors} & 8500 \\ \hline \text{Bad debts written off} & 350 \\ \hline \text{Discount allowed} & 500 \\ \hline \text{Discount Received} & 1000\end{array}\) What is the amount of sales of sales for the year?
Question 5 of 10
Given: I. Settlement of debts II. Cessation of business III. Introduction of assets IV. Disposal of assets Which of these constitutes dissolution of partnership?
Question 6 of 10
The use of a three column cash book is determined by
Question 7 of 10
The discount column on the left-hand side of cashbook represents a discount
Question 8 of 10
The tier of government that uses financial memorandum
Question 9 of 10
What is the effect of transaction when cash is paid into the bank
Question 10 of 10
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Stock Jan 1} & 2000 \\ \hline \text{Purchases} & 4000 \\ \hline \text{Carriage inwards} & 500 \\ \hline \text{Sales} & 9000 \\ \hline \text{Carriage outwards} & 500\end{array}\) Carriage outwards