Examination malpractices may lead to a repeat of the subject or suspensions don’t be involved.



  1. The document a supplier sends to a customer to correct overcast on an invoice is
  2. receipt b. credit note c. debit note d. waybill
  3. Which of the following assets is a current asset …. a. debtors b. building c. land d. furniture
  4. A dishonoured cheque will be returned by the bank to the

a.payee b. drawee c. cashier d. depositor

  1. Carriage outward is classified as…. a. a distribution expense b. a trading expense 
  2. a financial expense d. an administrative expense
  3. Assets and expenditure are entered are entered in the trial balance as
  4. contra entries b. debit entries c. credit entries d. double entries
  5. A subsidiary book of account in which credit sales are entered is called
  6. sales journal b. purchases journal c. allowances book d. returns outwards journal
  7. One of the following differentiate three column cash book from double column cash book
  8. cash b. contra entry c. discount d. reverse entry
  9. A book that is used to record cash and bank transaction is called
  10. cash book b. petty cash book c. trial balance d. purchases
  11. The abbreviation “b/d means… a. carried done b. brought down c. carried disposed d. carried 


  1. The lodgment of business cash into the business bank account is an example of
  2. contra entry b. bank reconciliation c. self balancing ledger d. reversal entry

Use the information below to answer question 11 to 13

Jan 3 capital #3900

Jan 4 paid #2850 of the capital into bank

Jan 10 cash purchases by cheque #400

Jan 15 cash sales #550

Jan 20 purchases by cheque #800

Jan 28 office expenses paid for in cash #40

Jan 29 cash paid into bank #2000

Jan 30 wages paid by cheque #85

  1. What is the cash balance as at may 1st… a. #820 b. #2075 c. #4000 d. #540
  2. The bank balance as at may 1st is…… a. #2075 b. #820 c. #4000 d. #3565
  3. The type of cash book required for this information is
  4. single column b. double column c. three column d. multiple column
  5. Account can be broadly classified into … a. receipt and payments accounts b. profits and loss 

           accounts c. debtors and creditors d. personal and impersonal account

  1. The letter ‘C’ written under the folio column in the cash book indicates
  2. credit entry b. contra entry c. credit entry d. cash sales
  3. The fixed amount of money used in commencing a business is … a. float b. capital 
  4. provision d. reserve
  5. Net sales represents total sales less ….. a. returns inwards b. returns c. carriage inwards 
  6. carriage outwards
  7. Which of the following shows gross profit on sales? a. bank statement b. cash book c. ledger 

            account d. trading account

  1. A credit balance in bank account means…. a. commission b. expenses c. loan d. overdraft
  2. Which of the following is  a current liability? a. cash at bank b. cash in hand c. debtor 
  3. accruals 
  4. The transaction that has effect on both sides of a cash book is called
  5. cash paid b. cash sales c. contra entry d. discount
  6. Debit note issued is recorded in… a. cash book b. purchases journal c. returns outward journal 
  7. sales journal
  8. the following is present in three column cash book except? 
  9. bank b. discount c. cash d. float
  10. Which of the following is not an importance of book-keeping?
  11. decision making b. planning c. prevention of fraud d. profit and loss sharing
  12. Two column cash book has how many columns? a. five b. four c. three d. six
  13. The rule of double entry state that “for every debit entry there must be a corresponding
  14. credit entry b. debit entry c. credit entry and vice versa
  15. One of the following differentiate two column cash book from one column cash book
  16. cash b. bank c. discount d. purchases
  17. Transaction can be classified into credit and _____ a. cash b. discount c. bank d. money

Use this information to answer question 29 and 30

Cash sales #600, paid wages #800

  1. What is the entry for cash sales? a.Debit cash account credit sales account b. credit cash account debit sales account c. debit both account d. credit both account
  2. What is the entry for wages? a. debit cash account credit wages account b. credit cash account debit wages account c. credit both account d. debit both account.
  3.     The application of the principle of the science of accountancy in the keeping of books of account 

       is known as … a. Accountancy b. Transactions c. book-keeping d. financing

  1. The theory of double entry in book keeping was first written in the 115th century in 
  2. Germany b. Nigeria c. Italy d. England
  3. The act of supplying goods and services to satisfy human wants is known as 
  4. classifying b. recording c. transaction d. marketing
  5. The first man to introduce the theory of double entry among merchants is known as (A) Luca pacioli b. Richard crafton c. lord lugard d. akin tola Williams
  6.     Which of the following is not a source document … a. invoice b. voucher c. ledger d. receipt 
  7. If a trader sells goods for cash valued at #300, he will debit his cash and credit his 
  8. purchases account b. sales account c. goods account d. cash account
  9. If a trader purchases goods for cash valued at #500 he will credit cash account and debit his 
  10. sales account b. purchases account c. creditor account d. debtor account
  11. One of the following is often referred to as the principal book of account 
  12. journal b. ledger c. cash book d. trial balance
  13. The principle of changes in similar items is called a/an 
  14. journal b. impress c. book-keeping d. account
  15. Account kept to record transactions with persons and other businesses is termed 
  16. personal account b. real account c. nominal account d. impersonal account
  17. The property and possessions of a business are called .. a. liabilities b. debt c. asset d. capital
  18. assets that are required and are retained in the business indefinitely for the purpose of earning 

        income are called …. a. current asset b. fixed asset c. current liability d. long term asset

  1. All of these are parties to business transactions except….
  2. suppliers and buyers b. debtors and creditors c. sellers and buyers d. promoters and vendors
  3. One of the following is an example of current assets… a. building b. machinery c. equipment
  4. cash
  5. Expenses paid for in one period but not entirely consumed or used until a later period is called
  6. accrued expenses b. prepaid expenses c. prepaid income d. accured income
  7. Debts or obligations due to creditors are called … a. assets b. properties c. liability
  8. contracts
  9. One of the following defines the equation of accounting
  10. asset = capital – liabilities b. asset = capital x liability c. asset = capital / liability
  11. asset = capital + liability
  12. Segun lent us #400 cash. The accounting entry for this transaction is credit segun account and 
  13. debit sales account b. debit purchases account c. debit rent account d. debit cash account
  14. What is the effect of asset withdrawals on the capital of a business
  15. decrease b. increase c. growth d. no effect
  16. Which of these used in book keeping means the same as marking entries in various ledger 

             accounts ……. a. posting b. recording c. classifying d. analysing




1a. What is source document ? 

  1. State the items in single column cash book
  2. give one example of contra entry

2a. Define book keeping 

  1. Differentiate between single column cash book and double column cash book
  2. Draw the format of a double column cash book

3a. State four important of book keeping 

  1. State five items on the credit side of double column cash book
  2. State three items on the debit side of a single column cash book.

4a. State the classes of ledger

  1. What are the uses of source document
  2. Explain the types of transaction



  1. Write up the double column cash book from the following:

May 1 Balance brought down, cash in hand #860,cash at bank #33,560

May 2 Paid rent by cheque #500

May 3 Paid for postage in cash #60

May 5 Bought a new car for #2,950 cash

May 7 Paid rates by cheque #2,560

May 10 Cash sales #840

May 11 Cash drawing by proprietor #300

May 15 Cash paid into bank #700

May 17 We paid okon by cheque #850

May 19 Withdrew #3,000 from bank for business use

May 21 Cash sales paid directly into bank #2,110

May 24 Tiamiu paid us #2,500 cash

May 29 John paid us by cheque #890

  1. Enter the following transactions in the cash account of Blessing

Jan 1 Started business with#6,000 cash

Jan 3 Purchased goods #4,000 cash

Jan 4 Sold goods for cash #5,000

Jan 7 Paid wages cash #4,000

Jan 12 Cash sales #2,000

Jan 15 Cash purchases #800

Jan 17 Paid cash #80 for electricity

Jan 19 Received cash from Tudor #3,610

Jan 21 Bought stationery #210 for cash

  1. Complete the following table showing the accounts to be credited and which to be debited
  2. took cash from bank for business use
  3. paid telephone by cheque
  4. paid wages by cheque
  5. paid general expenses by cash
  6. goods returned to olaide
  7. From the following information calculate the asset and liabilities

Land and building N25,000, furniture N15,000 creditors N25,000 loan N 12,000 overdraft N13,000 cash N13,000 machinery N45,000 debtors N40,000 capital N105,000 debenture N20,000 stock N15,000 owings N10,000

  1. Write a two column cash book from the book of Sesi enterprise

Jan 1 started business with 30,000 cash,60,000 bank

Jan 2 paid Salem 20,000 cash

Jan 5 cash sales 30,000

Jan 10 paid cash into the bank 35,000

Jan 15 purchases 25,000

Jan 17 cash sales paid directly into the bank 40,000

Jan 20 wages by cash 20,000

Jan 22 we paid the following by cheque:

Blessing 20,000 , Chinedu 9,000 and Stock 8,000

Jan 27 rent paid by cash 600

Jan 29 Grace paid us by cheque 25,000

Jan 30 Banked cash 30,000


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