JAMB and WAEC Accounts (Principles of Accounts) questions

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

All JAMB WAEC

Question 581· The trial balance and errors· WAEC
Which error does NOT affect the agreement of a trial balance?
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Answer: B. error of omission
Explanation and discussion
Question 582· The trial balance and errors· WAEC
An error in which a transaction is completely omitted from the books is an error of
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Answer: A. omission
Explanation and discussion
Question 583· The trial balance and errors· WAEC
A suspense account is opened when
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Answer: D. the trial balance totals disagree
Explanation and discussion
Question 584· The trial balance and errors· WAEC
Recording the purchase of a motor van in the purchases account is an error of
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Answer: B. principle
Explanation and discussion
Question 585· The trial balance and errors· JAMB
A sales invoice for ₦8,500 was entered in the sales journal as ₦5,800 and posted from there. This is an error of
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Answer: D. original entry
Explanation and discussion
Question 586· The trial balance and errors· WAEC
Entering the purchase of a machine in the purchases account is an error of
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Answer: A. principle
Explanation and discussion
Question 587· The trial balance and errors· JAMB
Rent paid of ₦5,000 debited to the landlord's personal account instead of the rent account is an error of
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Answer: C. principle
Explanation and discussion
Question 588· The trial balance and errors· JAMB
When the trial balance credit total exceeds the debit total by ₦600, the suspense account will have
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Answer: D. a debit balance of ₦600
Explanation and discussion
Question 589· The trial balance and errors· JAMB
Two errors of equal amount on opposite sides that cancel out are
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Answer: A. compensating errors
Explanation and discussion
Question 590· The trial balance and errors· JAMB
A trial balance lists
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Answer: B. the balances of all ledger accounts at a date
Explanation and discussion
Question 591· The trial balance and errors· JAMB
A transaction completely left out of the books is an error of
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Answer: C. omission
Explanation and discussion
Question 592· The trial balance and errors· WAEC
Posting a payment from Bello to Bola's account is an error of
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Answer: D. commission
Explanation and discussion
Question 593· The trial balance and errors· JAMB
Recording the purchase of office furniture in the purchases account is an error of
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Answer: B. principle
Explanation and discussion
Question 594· The trial balance and errors· JAMB
Which error needs an entry in the suspense account when it is corrected?
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Answer: C. the sales journal was undercast by ₦2,000
Explanation and discussion
Question 595· The trial balance and errors· WAEC
Posting ₦5,000 received from Ada to Adamu's account is an error of
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Answer: D. commission
Explanation and discussion
Question 596· The trial balance and errors· JAMB
A trial balance is prepared mainly to
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Answer: B. check the arithmetical accuracy of the ledger
Explanation and discussion
Question 597· The trial balance and errors· JAMB
Debiting cash and crediting Ade, instead of debiting Ade and crediting cash, is
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Answer: C. a complete reversal of entries
Explanation and discussion
Question 598· The trial balance and errors· WAEC
A credit sale to Musa was posted to Moses's account. This error
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Answer: A. will not cause the trial balance to disagree
Explanation and discussion
Question 599· The trial balance and errors· JAMB
Which of these errors does NOT affect the agreement of the trial balance?
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Answer: A. An error of omission
Explanation and discussion
Question 600· The trial balance and errors· JAMB
Which of these balances appears on the debit side of a trial balance?
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Answer: C. returns inwards
Explanation and discussion

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JAMB and WAEC Accounts (Principles of Accounts) questions

Which error does NOT affect the agreement of a trial balance?

An error in which a transaction is completely omitted from the books is an error of

A suspense account is opened when

Recording the purchase of a motor van in the purchases account is an error of

A sales invoice for ₦8,500 was entered in the sales journal as ₦5,800 and posted from there. This is an error of

Entering the purchase of a machine in the purchases account is an error of

Rent paid of ₦5,000 debited to the landlord's personal account instead of the rent account is an error of

When the trial balance credit total exceeds the debit total by ₦600, the suspense account will have

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

A trial balance lists

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

Posting a payment from Bello to Bola's account is an error of

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

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

Posting ₦5,000 received from Ada to Adamu's account is an error of

A trial balance is prepared mainly to

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

A credit sale to Musa was posted to Moses's account. This error

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

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