JAMB Accounting Past Questions & Answers - Page 166

826.

The process of bookkeeping includes records produced from?

A.

Ledgers

B.

Source documents

C.

Minutes of meeting

D.

Intuitive reasoning

Correct answer is A

Bookkeeping is the recording of financial transactions  in which all of the financial transactions of the business (consisting of income and expenses) are entered into a database. It uses records recorded in the ledger.
Ledgers is a book or other collection of financial accounts.

 

827.

The accounting convention which states that the performance of a business should be determined by matching all expenses against revenues is?

A.

Accruals

B.

Materiality

C.

Objectivity

D.

Periodicity

Correct answer is A

No explanation has been provided for this answer.

828.

Which of the following branches of accounting was first developed?

A.

Cost accounting

B.

Financial acounting

C.

Management accounting

D.

Petroleum accounting

Correct answer is B

No explanation has been provided for this answer.

829.

The Auditor General of the Federation can be removed by the?

A.

National Assembly

B.

Chief Justice

C.

The president

D.

Head of Service

Correct answer is C

No explanation has been provided for this answer.

830.

Which of the following is among the categories of government cash book?

A.

Receipt cash book

B.

Payment cash book

C.

Petty cash book

D.

Treasury cash book

Correct answer is D

No explanation has been provided for this answer.