JAMB Accounting Past Questions & Answers - Page 184

916.

The medium that enables the ATM to read the account details and process transaction directly with the account held in the bank is the?

A.

Smart card

B.

Communication network

C.

Magnetic strip

D.

Computerized account

Correct answer is A

No explanation has been provided for this answer.

917.

Commission-on-turnover is charged on?

A.

Current accounts only

B.

Savings accounts only

C.

Fixed deposit accounts only

D.

All bank accounts

Correct answer is A

No explanation has been provided for this answer.

918.

Abba offers 5% cash discount on goods worth N10,000, The discount allowed account is to be?

A.

Debited with N10,000

B.

Credited with N10,000

C.

Debited with N500

D.

Credited with N500

Correct answer is C

No explanation has been provided for this answer.

919.

An entry made in bank column of cash book to record movement of cash between the office and the bank is the?

A.

Real entry

B.

Special entry

C.

Direct entry

D.

Contra entry

Correct answer is D

No explanation has been provided for this answer.