Jamb Accounts CBT Quiz /11 1 Time is up! You need to think and answer fast!! Accounts Quiz This Quiz will increase your knowledge in Accounts. 1 / 11 The cost of acquiring fixed assets and bring them into the firm is a Revenue expenditure General expenses Capital expenditure Recurrent expenditure 2 / 11 In order to make the cash book balance equal to the bank statement, it is usual to add Unpresented cheques Bank charges Direct payments by bank Uncredited cheques 3 / 11 Calculate the adjusted cashbook balance...Balance as per cash book: #2,970Bank charges: #220Unpresented charges: #3950Uncredited cheques: #4178Direct debit by bank: #1000 #1027 #4,190 #3729 #2000 4 / 11 The cost of machine was #100,000 and an estimate salvage value of #2,000 with a useful life of 14 years. What's the accumulated depreciation for the past 4 years? #28,000 #18,000 #37000 #29000 5 / 11 Calculate the adjusted cashbook balance...Balance as per cash book: #2,970Bank charges: #220Unpresented charges: #3950Uncredited cheques: #4178Direct debit by bank: #1000 #1027 #4,190 #3729 #2000 6 / 11 What's over paid portion of the rent?During the year ended 31st, December 2001, Nuju enterprises paid rent as follows;January 20, #24,000 for a period of 4 months,May 16, #30,000 for a period of 5 monthsOctober 15, #36,000 for a period of 6 months, #18,000 #19000 #30000 #17000 7 / 11 The cost of acquiring fixed assets and bring them into the firm is a Revenue expenditure General expenses Capital expenditure Recurrent expenditure 8 / 11 Which of the following relate to the profit and loss account of a manufacturing firm? Direct materials Administration overhead Direct labour Work-in-progress 9 / 11 Which of the following relate to the profit and loss account of a manufacturing firm? Direct materials Work-in-progress Direct labour Administration overhead 10 / 11 The simplest form of single entry procedure consists of keeping a Cash book and ledger accounts showing debtors and creditors balances balances Day book or general journal Cash journal, sales journal and purchases journal Day book in which transaction are described in a chronological order 11 / 11 The most convenient cash book used by a petty trader operating in an area where there is no banking facility is Two column Single column Four column Three column Your score is Restart quiz CHANGE SUBJECT