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Question 1 of 10
The correct expression of accounting equation is
JAMB Accounting Past Questions - Set 31
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 31 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 31 covers questions from JAMB exams (2016-2017).
Progress0 / 10 answered
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Question 2 of 10
Balance as per cashbook 2, 970 Bank Charges 220 Unpresented cheques 3, 950 Uncredited cheques 4, 178 Direct debit by bank 1, 0000 Determine the balance as per bank statement.
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Question 3 of 10
The records of Superstores shows a loan of #14,000 from Bala,creditor #8,000 and assets #190,500. What is the firm's capital?
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Question 4 of 10
The major advantage of the journal proper is that it
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Question 5 of 10
Departments K Y Opening 2,500 800 Purchases 120,000 100,000 Sales 180,000 200,000 Salary 8,000 30,000 Closing stock 3,000 1,500 Rate expenses of 1,500 are apportioned in the ratio 1:2 The gross profit for K is
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Question 6 of 10
One of the objectives of accounting is that it can be used for
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Question 7 of 10
The ratio that gives the indication of the efficiency of a firm's sales with respect to cost of goods sold is a
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Question 8 of 10
The instrument used in analysis and interpretation of financial statement is the
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Question 9 of 10
An item in the balance sheet of a limited liability company is
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Question 10 of 10
The documents that provide instant information to firms on their tranactions with banks are