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Question 1 of 10
Use the information below to answer question . Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided. Find the total amount paid?
JAMB Accounting Past Questions - Set 52
10 QuestionsMultiple ChoiceFree Practice
About this quiz
This JAMB Accounting Past Questions - Set 52 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 52 covers questions from JAMB exams (2011).
Progress0 / 10 answered
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Question 2 of 10
In bank reconciliation process, discrepancies cause by timing arises as a result of?
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Question 3 of 10
The process of reconciling cheques between banks is termed cheque?
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Question 4 of 10
In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?
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Question 5 of 10
Use the information below to answer question i) Stock of goods ii) Furniture iii)Creditors iv) Cash at bank v) Loan from the bank Determine the current liabilities?
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Question 6 of 10
Use the information below to answer question i) Stock of goods ii) Furniture iii)Creditors iv) Cash at bank v) Loan from the bank Find the current assets?
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Question 7 of 10
The type of expense charged against administration of a firm is the?
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Question 8 of 10
In a period of declining price, which of the following methods would result in higher profit?
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Question 9 of 10
The item on the credit side of the trading account is the?
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Question 10 of 10
Use the information above to answer questions 19 and 20. July 30 Closing stock 100 units at N90 July 8 Purchased 200 units at N95 July 10 Sold 160 units July 17 Returned 80 faulty units purchased at N95 July 18 Purchased 200 units at N105 July 20 Sold 180 units July 28 Purchased 200 units at N110 July 29 Sold 120 units July 30 Sold 100 units How many units were at hand as at July 30?