by Sunday | Dec 2 | Accounting JAMB
A. bank column (debit) B. bank column(credit) C. cash column(debit) D. cash column(credit) Correct Answer: Option B – bank column(credit) Explanation Dishonoured cheques will be recorded on the credit side, write “By Debtor A/C” with respective...
by Sunday | Dec 2 | Accounting JAMB
A. purchases #12,000 and credit Ibrahim #12,000 B. purchases #12,000 and credit sugar account #12,000 C. Jide #12,000 and credit purchases D. Ibrahim #12,000 and sugar account #12,000 Correct Answer: Option A – purchases #12,000 and credit Ibrahim #12,000...
by Sunday | Dec 2 | Accounting JAMB
Ibrahim, a micro-business operator, sold 10 bags of sugar to Jide at a total cost of #12,000. In the book of Ibrahim; the entry to record the transaction would be to debit A. sugar account #12,000 and credit Jide #12,000 B. Jide #12,000 and credit sales account...
by Sunday | Dec 2 | Accounting JAMB
A. motor van and credit Akirika B. sales and credit Akrika C. motor van and credit cash D. cash and credit motor van Correct Answer: Option C – motor van and credit cash Explanation Since the van is not for resale rather to help in the running of the business,...
by Sunday | Dec 2 | Accounting JAMB
A. debiting the capital account B. crediting the capital account C. debiting the cash account D. crediting the cash account Correct Answer: Option C – debiting the cash account
by Sunday | Dec 2 | Accounting JAMB
A. capital and debit liabilities B. liabilities and credit assets C. assets and credit capital D. capital and credit assets Correct Answer: Option C – assets and credit capital
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
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