ATTENTION:
Kindly note that you will be presented with 50 questions randomized from the NOUN question bank. Make sure to take the quiz multiple times so you can get familiar with the questions and answers, as new questions are randomized in each attempt.
Good luck!
ACC101
1 / 50
1. Given balance per bank statement as N198,000, unpresented cheque of N29,000, transfer charges of N3,000, bank commission of N8,000; determine the adjusted cash book
2 / 50
2. A ---------- cash book is one in which cash and cheque transactions are recorded
3 / 50
3. Individual trade payable ledger accounts is part of the _______________
4 / 50
4. The --------------- is used to record a variety of things that consist of accounting adjustments.
5 / 50
5. Amount of each credit note received is _______________ to the trade payable accounts
6 / 50
6. A society paid for CDs; one effect is that cash would decrease and another effect is that _______________ would decrease.
7 / 50
7. A society bought books for resale on credit, one effect is that expenditure would increase and another effect is that _______________ would increase.
8 / 50
8. _______________ is the process of investigating the difference in cash book and bank statement balances.
9 / 50
9. The actual process of placing the bookkeeping entry in each account is called _______________
10 / 50
10. ----------------- is a permanent record of all transaction book
11 / 50
11. The real sense of placing the book keeping entry in each account is called ------------
12 / 50
12. Accounts of assets are known as _______________ account.
13 / 50
13. _______________ is used to record transactions that are not appropriate to any other book of prime entry.
14 / 50
14. A petty cash book is used instead of a _______________ account in the general ledger.
15 / 50
15. _________ is a permanent record of all transaction book
16 / 50
16. _______________ is used to record correction of errors rather than transactions.
17 / 50
17. The cash and bank accounts are taken out of the ledger and combined into a single book the ----------
18 / 50
18. ____ book is used instead of a cash ledger account in the general ledger
19 / 50
19. The debit in two column book is credited to a --------------- account in the general ledger.
20 / 50
20. _______________ is used to record the credit notes received from suppliers.
21 / 50
21. Financial information from source documents are entered first into the books of _______________
22 / 50
22. -------------- is a reduction given by the supplier of goods to a buyer if the latter pays for them within a period stipulated by the seller at the time of sale.
23 / 50
23. The amount of petty cash float is determined by reference to the normal level of petty cash _______________
24 / 50
24. The ---------------book is written up from copies of the credit notes retained by the seller
25 / 50
25. A ---------------- cash book is used to record receipts and payments by cheque
26 / 50
26. ________ is the final destination of all transactions in the books of prime entries
27 / 50
27. The -------------- book is written up from the credit notes received from suppliers
28 / 50
28. The purchase returns ledger account is part of the _______________
29 / 50
29. ____ book record the purchase on credit of those bought specially for resale
30 / 50
30. A two-column cash book has column for _______________
31 / 50
31. _______________ is a reduction given by the supplier to the buyer for paying within stipulated time
32 / 50
32. ____ system is an accounting system whereby every transaction that has to be recorded gives rise to two entries
33 / 50
33. At the end of each period, goods bought on credit is debited to the _______________
34 / 50
34. Amount entered in the purchase returns day book is derived after deducting _______________
35 / 50
35. _______________ lodgements are either added to the statement balance or deducted from cash book balance.
36 / 50
36. _______________ is used to record goods bought on credit.
37 / 50
37. The nature of the entry in the _______________ must be explained in a narrative.
38 / 50
38. _______________ can be deducted in the cash book but not in the bank statement.
39 / 50
39. Given credit purchase of N90,000 from Cadbury Nigeria Ltd; N70,000 from Cable Light Ltd and cash purchase of N80,000: the purchase ledger account is debited by ___________
40 / 50
40. --------------- is the final destination of all transactions in the books of prime entries
41 / 50
41. Many firms operate their petty cash on _______________ system
42 / 50
42. Cash discount is not deducted on the _______________
43 / 50
43. The vital rule of double-entry system of accounting is that every transaction gives rise to _______________ entry.
44 / 50
44. Firms operates their petty cash on an ----------- system
45 / 50
45. The ------------- cash book represent three accounts
46 / 50
46. -------------- can also be used to record transactions that are not appropriate to any other book of prime entry
47 / 50
47. At the end of each period, the total of the purchase returns day book is _______________ to the purchase returns ledger account.
48 / 50
48. The ----------- accounts are the accounts of assets
49 / 50
49. Cash discount is calculated from the amount shown on the _______________
50 / 50
50. The amount entered in the purchases day book is after deducting _______________
Restart quiz
Rate this quiz
