JAMB Accounting Past Questions & Answers - Page 158

786.

i) Stock of goods
ii) Furniture 
iii)Creditors
iv) Cash at bank
v) Loan from the bank

Determine the current liabilities?

A.

iii and v

B.

ii and iii

C.

iv and v

D.

i and ii

Correct answer is A

No explanation has been provided for this answer.

787.

In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?

A.

Balance as per bank statement

B.

Bank balance as per adjusted cash book

C.

Aggregate balance as per cash book

D.

Bank balance as per cash book

Correct answer is A

No explanation has been provided for this answer.

788.

The process of reconciling cheques between banks is termed cheque?

A.

Clearing

B.

Truncation

C.

Holding

D.

Confirmation

Correct answer is A

No explanation has been provided for this answer.

789.

In bank reconciliation process, discrepancies cause by timing arises as a result of?

A.

Cash book bank statement

B.

Bank statement only

C.

Cash book, bank statement and other incidental records

D.

Cash book only

Correct answer is A

No explanation has been provided for this answer.