JEVWE SECONDARY SCHOOL OROGUN TOWN UGHELLI NORTH L.G.A.

DELTA STATE
THIRD TERM PROMOTION EXAMINATION 2022/2023 ACADEMY
SESSION SUBJECT: FINANCIAL ACCOUNTING CLASS:S.S.2
OBJECTIVE QUESTIONS
1. A list of balance extracted from the ledger is called? (a) journal (b) balance sheet
(c) assets (d) trail balance
2. The following are components of balance sheet expect? (a) cash (b) loan
(c) stock of goods (d) returns inward
3. The following is not a purpose of control account (a) check on errors of addition
(b) locate errors (c) locate missing figures (d) monitor the cash book
4. One of the following is not an accounting concepts (a) entity (b) historical
(c) going concern (d) consistency
5. Which of the following items is not a shown in the trial balance (a) closing stock
(b) opening stock (c) opening debtors value (d) closing assets value
6. The assumption that a business has perpetual existence is recognized by
(a) entity (b) periodicity)c) going concern concept (d) realization concept
7. Which of the following errors affect the trial balance? (a) commission
(b) omission (c) principles (d) single entry
8. The purchase of furniture #600 had been entered in the furniture
expenses account. This is an error of (a) commission (b) complete
reversal (c) principle (d) omission
9. The trial balance helps in listing (a) the deduction in the ledger (b) posting to
the cash book (c) the accurate of the double entry (d) none of the above
10. The petty cash book is the book to record small (a) amount (b) cash (c)
payment for workers (d) capital
11. The two column cash book is used to record (a) credit payment and discounts
(b) cash payment only (c) cash receipt and payment (d) none of the above
12. Which of the following is a personal account? (a) interest account (b) land
and building (c) debtors account (d) creditors account
13. The book used to record goods bought on credit is called? (a) cash book
(b) purchase day book (c) trail balance (d) sales journal
14. One of the following is not an accounting ethnics (a) professional behavior
(b) honesty (c) confidentiality (d) entity
15. The users of accounting information include the following except (a) bank
(b) owners (c) creditors (d) farmers
16. Which of the following is not a source documents (a) invoice (b) credit note
(c) debit note (d) password
17. What is the purpose of sending the debit note? (a) to reduce the customers
indebtedness (b) correct error in the trial balance (c) to increase the customers
indebted (d) to balance their account
18. The following are components of the balance sheet expect (a) capital
(b) drawings (c) machinery (d) credit sales
19. Which of the following is not an input device? (a) diskette (b) printers
(c) keyboard (d) mouse
20. Accountant do not count chickens before they are hatched. This is the
concept of (a) accrual (b) materiality (c) realization (d) going concern
JEVWE SECONDARY SCHOOL OROGUN TOWN UGHELLI NORTH L.G.A.
DELTA STATE
THIRD TERM PROMOTION EXAMINATION 2022/2023 ACADEMY
SESSION SUBJECT: FINANCIAL ACCOUNTING CLASS:S.S.1
OBJECTIVE QUESTIONS
1. A list of balance extracted from the ledger is called? (a) journal (b) balance sheet
(c) assets (d) trail balance
2. The following are components of balance sheet expect? (a) cash (b) loan
(c) stock of goods (d) returns inward
3. The following is not a purpose of control account (a) check on errors of addition
(b) locate errors (c) locate missing figures (d) monitor the cash book
4. One of the following is not an accounting concepts (a) entity (b) historical
(c) going concern (d) consistency
5. Which of the following items is not a shown in the trial balance (a) closing stock
(b) opening stock (c) opening debtors value (d) closing assets value
6. The assumption that a business has perpetual existence is recognized by
(a) entity (b) periodicity)c) going concern concept (d) realization concept
7. Which of the following errors affect the trial balance? (a) commission
(b) omission (c) principles (d) single entry
8. The purchase of furniture #600 had been entered in the furniture
expenses account. This is an error of (a) commission (b) complete
reversal (c) principle (d) omission
9. The trial balance helps in listing (a) the deduction in the ledger (b) posting to
the cash book (c) the accurate of the double entry (d) none of the above
10. The petty cash book is the book to record small (a) amount (b) cash (c)
payment for workers (d) capital
11. The two column cash book is used to record (a) credit payment and discounts
(b) cash payment only (c) cash receipt and payment (d) none of the above
12. Which of the following is a personal account? (a) interest account (b) land
and building (c) debtors account (d) creditors account
13. The book used to record goods bought on credit is called? (a) cash book
(b) purchase day book (c) trail balance (d) sales journal
14. One of the following is not an accounting ethnics (a) professional behavior
(b) honesty (c) confidentiality (d) entity
15. The users of accounting information include the following except (a) bank
(b) owners (c) creditors (d) farmers
16. Which of the following is not a source documents (a) invoice (b) credit note
(c) debit note (d) password
17. What is the purpose of sending the debit note? (a) to reduce the customers
indebtedness (b) correct error in the trial balance (c) to increase the customers
indebted (d) to balance their account
18. The following are components of the balance sheet expect (a) capital
(b) drawings (c) machinery (d) credit sales
19. Which of the following is not an input device? (a) diskette (b) printers
(c) keyboard (d) mouse
20. Accountant do not count chickens before they are hatched. This is the
concept of (a) accrual (b) materiality (c) realization (d) going concern