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BHS Bus Stud JSS2
BHS Bus Stud JSS2
1. _____ is the movement of money between cash account and bank account (a) contra entry (b) cash book (c) money
2. _____ is the type of main cash book that is used to record all cash receipts and payments by an organisation that does
not operate bank account. (a) single column cash book (b) double column cash book (c) three column cash book
3. An account that has in addition of discount book credit and debit sides is known as (a) one cash book (b) two cash
book (c) three cash book
4. _____ accept deposit from the public and gives loans for the purposes of investment (a) microfinance bank (b)
commercial bank (c) world bank
5. The commercial bank was founded in the year _____ (a) 1924 (b) 1942 (c) 1920
6. The full meaning of ATM is _____
7. An account which money is deposited for a specific period of time is known as _____ (a) savings account (b) current
account (c) fixed deposit account
8. These are the types of bank account except _____ (a) first account (b) current account (c) savings account
9. _____ is used to record cash receipt and cash payment and usually maintained by an organisation that keeps money
in the office and operates a bank account (a) Two column cash book (b) bank column cash book (c) one column
cash book
10. A situation by which manufacturer reduces the price of a product when it sells to a reseller is known as _____ (a) trade
discount (b) sales discount (c) manufacturer discount
SECTION B: THEORY
INSTRUCTION: Answer all the questions Write up a three column cash book from the following transactions of Adeola Farms
Limited, balance off at the end of the month of May and show the relevant discount accounts as they would appear in the ledger.