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JAMB and WAEC Accounts (Principles of Accounts) questions

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

AllJAMBWAEC
All topicsAccounting concepts and conventions · 35Accounts of not-for-profit organisations · 29Accruals, prepayments and provisions · 34Bank reconciliation statements · 31Branch and departmental accounts · 29Company accounts · 33Control accounts · 30Depreciation of non-current assets · 34Double entry and the ledger · 38Final accounts of a sole trader · 39Incomplete records · 31Manufacturing accounts · 29Nature and purpose of accounting · 29Partnership accounts · 34Petty cash and the imprest system · 26Public sector accounting · 30Source documents and books of original entry · 30The cash book and discounts · 33The trial balance and errors · 35

  1. Question 101· Bank reconciliation statements· WAEC

    Cheques issued but not yet presented to the bank are

    Explanation and discussion

  2. Question 102· Bank reconciliation statements· JAMB

    Unpresented cheques are cheques that

    Explanation and discussion

  3. Question 103· Bank reconciliation statements· WAEC

    A dividend received directly by the bank on behalf of the business should be

    Explanation and discussion

  4. Question 104· Bank reconciliation statements· WAEC

    Bank charges shown on the bank statement but not in the cash book should be

    Explanation and discussion

  5. Question 105· Bank reconciliation statements· JAMB

    A customer's cheque paid into the bank was later dishonoured. In the cash book this is recorded by

    Explanation and discussion

  6. Question 106· Bank reconciliation statements· WAEC

    A cheque received from a customer that the bank refuses to pay is a

    Explanation and discussion

  7. Question 107· Bank reconciliation statements· WAEC

    The cash book shows a debit balance of ₦9,000. Unpresented cheques are ₦2,000. Ignoring other items, the bank statement balance is

    Explanation and discussion

  8. Question 108· Bank reconciliation statements· WAEC

    Cheques paid in but not yet credited by the bank are

    Explanation and discussion

  9. Question 109· Bank reconciliation statements· JAMB

    The cash book shows a debit bank balance of ₦45,000. Bank charges of ₦1,500 appear only on the bank statement. The corrected cash book balance is

    Explanation and discussion

  10. Question 110· Bank reconciliation statements· WAEC

    A standing order paid by the bank but not in the cash book should be

    Explanation and discussion

  11. Question 111· Bank reconciliation statements· JAMB

    Interest allowed by the bank and shown only on the statement should be

    Explanation and discussion

  12. Question 112· Bank reconciliation statements· JAMB

    A direct credit by a customer into the bank, not yet in the cash book, should be

    Explanation and discussion

  13. Question 113· Bank reconciliation statements· WAEC

    Bank charges shown only on the bank statement are corrected by

    Explanation and discussion

  14. Question 114· Bank reconciliation statements· WAEC

    A bank reconciliation statement explains the difference between the

    Explanation and discussion

  15. Question 115· Bank reconciliation statements· WAEC

    A customer's cheque that is dishonoured is recorded in the cash book by

    Explanation and discussion

  16. Question 116· Bank reconciliation statements· JAMB

    A cheque for ₦4,500 paid to a supplier was entered in the cash book as ₦5,400. To correct this, the cash book should be

    Explanation and discussion

  17. Question 117· Bank reconciliation statements· JAMB

    A bank overdraft in the cash book appears as a balance on the

    Explanation and discussion

  18. Question 118· Bank reconciliation statements· WAEC

    The cash book shows a debit bank balance of ₦45,000. Unpresented cheques total ₦8,000 and uncredited lodgements ₦5,000. What balance should the bank statement show?

    Explanation and discussion

  19. Question 119· Bank reconciliation statements· JAMB

    Which of these items causes the bank statement balance to be higher than the cash book balance?

    Explanation and discussion

  20. Question 120· Bank reconciliation statements· JAMB

    A standing order payment shown on the bank statement but not in the cash book should be

    Explanation and discussion

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