Principles of Accounts 2012 | Study Mode

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Question 1
A
historical concept
B
business entity concept
C
periodicity concept
D
materiality concept
Explanation

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Correct option: A
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Question 2
A
the application of proffessional competency
B
the accuracy of postings
C
the casting of financial figures
D
effective preparation of balance sheet
Explanation

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Correct option: A
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Question 3
A
capital and debit liabilities
B
liabilities and credit assets
C
assets and credit capital
D
capital and credit assets
Explanation

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Correct option: C
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Question 4
A
debiting the capital account
B
crediting the capital account
C
debiting the cash account
D
crediting the cash account
Explanation

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Correct option: C
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Question 5
A
motor van and credit Akirika
B
sales and credit Akrika
C
motor van and credit cash
D
cash and credit motor van
Explanation

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Correct option: C
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Question 6
A
sugar account #12,000 and credit Jide #12,000
B
Jide #12,000 and credit sales account #12,000
C
Ibrahim #12,000 and credit Jide #12,000
D
sugar account #12,000 and credit Ibrahim #12,000
Explanation

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Correct option: B
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Question 7
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
Explanation

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Correct option: A
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Question 8
A
bank column (debit)
B
bank column(credit)
C
cash column(debit)
D
cash column(credit)
Explanation

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Correct option: A
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Question 9
A
a bank teller
B
a credit card
C
a recharge card
D
ATM card
Explanation

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Correct option: D
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Question 10
A
has no sufficient cash with the bank
B
has no account with the bank
C
does not reside in the bank's country
D
does not possess the domestic currency
Explanation

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Correct option: A

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