JAMB Accounts (Principles of Accounts) questions

312 questions with answers and explanations. Tap an option to check yourself.

1. Question 261· Source documents and books of original entry· JAMB

   The purchases returns book is written up from

   • Ainvoices sent
   • Bcredit notes received from suppliers
   • Creceipts
   • Dpayslips

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   Explanation and discussion

2. Question 262· Source documents and books of original entry· JAMB

   The book of original entry used to record goods bought on credit is the

   • Asales journal
   • Bgeneral journal
   • Ccash book
   • Dpurchases journal

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   Explanation and discussion

3. Question 263· Source documents and books of original entry· JAMB

   An invoice received from a supplier for goods bought on credit is entered in the

   • Areturns inwards journal
   • Bsales journal
   • Cpurchases journal
   • Dcash book

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   Explanation and discussion

4. Question 264· Source documents and books of original entry· JAMB

   The source document for entries in the returns inwards journal is the

   • Ainvoice received
   • Bdebit note received from the supplier
   • Ccredit note sent to the customer
   • Dreceipt issued

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5. Question 265· Source documents and books of original entry· JAMB

   Which book of original entry records cash and cheque transactions?

   • Athe general journal
   • Bthe sales journal
   • Cthe purchases journal
   • Dthe cash book

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   Explanation and discussion

6. Question 266· Source documents and books of original entry· JAMB

   The source document for recording a cash sale is the

   • Ainvoice
   • Breceipt
   • Ccredit note
   • Ddebit note

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   Explanation and discussion

7. Question 267· Source documents and books of original entry· JAMB

   The source document for recording a credit purchase of goods is the

   • Apaying-in slip
   • Breceipt issued
   • Ccredit note sent
   • Dinvoice received from the supplier

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8. Question 268· Source documents and books of original entry· JAMB

   Which of these is recorded in the purchases journal?

   • AA motor van bought on credit
   • BGoods bought for cash
   • CGoods for resale bought on credit
   • DGoods returned to suppliers

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   Explanation and discussion

9. Question 269· Source documents and books of original entry· JAMB

   The sales day book is written up from

   • Areceipts issued
   • Bcredit notes received
   • Ccheque stubs
   • Dcopies of invoices sent to customers

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   Explanation and discussion

10. Question 270· Source documents and books of original entry· JAMB

    Credit notes received from suppliers for goods returned to them are first recorded in the

    • Apurchases journal
    • Breturns inwards journal
    • Csales journal
    • Dreturns outwards journal

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    Explanation and discussion

11. Question 271· Source documents and books of original entry· JAMB

    A bank paying-in slip is the source document for

    • Agoods bought
    • Bmoney deposited into the bank
    • Cgoods returned
    • Ddiscounts allowed

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    Explanation and discussion

12. Question 272· Source documents and books of original entry· JAMB

    The sales day book records

    • Acash sales
    • Bcredit sales of goods
    • Cthe sale of a used van on credit
    • Dreturns inwards

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    Explanation and discussion

13. Question 273· Source documents and books of original entry· JAMB

    A paying-in slip is used when

    • Awages are calculated
    • Bgoods are ordered
    • Cgoods are returned
    • Dcash or cheques are deposited in a bank

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14. Question 274· Source documents and books of original entry· JAMB

    A debit note sent to a supplier for goods returned is the source document for the

    • Areturns outwards journal
    • Breturns inwards journal
    • Csales journal
    • Dcash book

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    Explanation and discussion

15. Question 275· Source documents and books of original entry· JAMB

    Which of the following is recorded in the general journal?

    • ACredit sale of goods
    • BPurchase of a delivery van on credit
    • CCash sale of goods
    • DReturn of goods by a customer

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    Explanation and discussion

16. Question 276· Source documents and books of original entry· JAMB

    Opening entries for a new business are recorded in the

    • Asales day book
    • Bcash book
    • Cjournal
    • Dpetty cash book

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17. Question 277· The cash book and discounts· JAMB

    A two-column cash book has columns for

    • Acash and discount
    • Bcash and bank
    • Cbank and discount
    • Ddebtors and creditors

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18. Question 278· The cash book and discounts· JAMB

    When cash is paid into the bank, the entries in a two-column cash book are

    • Adebit both columns
    • Bdebit the cash column, credit the bank column
    • Ccredit the cash column, debit the bank column
    • Dcredit both columns

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19. Question 279· The cash book and discounts· JAMB

    A cash book with cash, bank and discount columns is a

    • Atwo-column cash book
    • Bthree-column cash book
    • Cpetty cash book
    • Dsingle-column cash book

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20. Question 280· The cash book and discounts· JAMB

    Cash sales are recorded on the

    • Acredit side of the cash book
    • Bdebit side of the cash book
    • Csales day book
    • Dpurchases book

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    Explanation and discussion