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JAMB Accounts (Principles of Accounts) questions

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

AllJAMBWAEC
All topicsAccounting concepts and conventions · 18Accounts of not-for-profit organisations · 15Accruals, prepayments and provisions · 17Bank reconciliation statements · 15Branch and departmental accounts · 13Company accounts · 18Control accounts · 15Depreciation of non-current assets · 17Double entry and the ledger · 19Final accounts of a sole trader · 20Incomplete records · 16Manufacturing accounts · 15Nature and purpose of accounting · 15Partnership accounts · 19Petty cash and the imprest system · 12Public sector accounting · 16Source documents and books of original entry · 16The cash book and discounts · 17The trial balance and errors · 19

  1. Question 301· The trial balance and errors· JAMB

    Two errors of equal amount on opposite sides that cancel out are

    Explanation and discussion

  2. Question 302· The trial balance and errors· JAMB

    A trial balance lists

    Explanation and discussion

  3. Question 303· The trial balance and errors· JAMB

    A transaction completely left out of the books is an error of

    Explanation and discussion

  4. Question 304· The trial balance and errors· JAMB

    Recording the purchase of office furniture in the purchases account is an error of

    Explanation and discussion

  5. Question 305· The trial balance and errors· JAMB

    Which error needs an entry in the suspense account when it is corrected?

    Explanation and discussion

  6. Question 306· The trial balance and errors· JAMB

    A trial balance is prepared mainly to

    Explanation and discussion

  7. Question 307· The trial balance and errors· JAMB

    Debiting cash and crediting Ade, instead of debiting Ade and crediting cash, is

    Explanation and discussion

  8. Question 308· The trial balance and errors· JAMB

    Which of these errors does NOT affect the agreement of the trial balance?

    Explanation and discussion

  9. Question 309· The trial balance and errors· JAMB

    Which of these balances appears on the debit side of a trial balance?

    Explanation and discussion

  10. Question 310· The trial balance and errors· JAMB

    A sale of ₦9,000 to Ola was entered as ₦900 in both Ola's account and the sales account. This is

    Explanation and discussion

  11. Question 311· The trial balance and errors· JAMB

    The wages account and the sales account were each overcast by ₦1,000. This is

    Explanation and discussion

  12. Question 312· The trial balance and errors· JAMB

    Posting a payment made to Musa into Moses's account is an error of

    Explanation and discussion

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