This JAMB Accounting Past Questions - Set 7 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 7 covers questions from JAMB exams (2023).
Question 1 of 10
Given: I. It records subscription in arrears II. Payments of liabilities is effected III. The account does not show if cash payment is revenue or capital expenditure IV. It performs the same function as cash book The features of receipts and payment account includes:
Question 2 of 10
Which of the following is used to service all operations of government?
Question 3 of 10
The effect of transaction when cash is paid into the bank is?
Question 4 of 10
Which of these is not a subsidiary books?
Question 5 of 10
Salaries in arrears is treated in the balance sheet as a
Question 6 of 10
Capital for a profit making organization is generated through
Question 7 of 10
One of the options below have the same features as the profit and loss account in non-profit organization
Question 8 of 10
₦ Plant and Machinery 190000 Motor Vehicle 170000 Stock 60000 Current Liabilities 50000 Purchase consideration 40000 The goodwill is?
Question 9 of 10
Which of these is not method of stock valuation?
Question 10 of 10
An evidence of payment issued to a government ministry by a revenue collector is