JAMB Accounting Past Questions & Answers - Page 210

1,047.

Yahya's bank account shows a credit balance of N1500,000. He paid N1700,000 into the bank.
What is his expected balance?

A.

Credit balance of N200,000

B.

Debit balance of N200,000

C.

Credit balance of N3,200,000

D.

Debit balance of N3,200,000

Correct answer is C

No explanation has been provided for this answer.

1,048.

Mr Bassey purchased a motor vehicle for use in his business and debited the purchases account with the same value. This is an error of?

A.

Omission

B.

Principle

C.

Commission

D.

Original entry

Correct answer is B

No explanation has been provided for this answer.

1,049.

What are the appropriate recording procedures for entries in the trial balance?

A.

Source documents, ledgers and trial balance

B.

Ledgers, trial balance and source documents

C.

Ledgers, source documents and trial balance

D.

Cash account, ledgers and trial balance

Correct answer is A

No explanation has been provided for this answer.