FIRST TERM Examination malpractices may lead to a repeat of the subject or suspensions don’t be involved. SUBJECT: FINANCIAL ACCOUNTING CLASS: SSS 1 TIME APPROVED: 3HRS OBJECTIVE A subsidiary book is a …. a. book of account b. summary of entries c. books of original entry double entry posting A trade discount
THIRD TERM Examination malpractices may lead to a repeat of the subject or suspensions don’t be involved. SUBJECT FINANCIAL ACCOUNTING CLASS: S. S. S 2 DURATION 3 HRS OBJECTIVE 1. A reserve is an amount a. set aside from profit for an unknown liability b. of loss from trading activities c. of profit from trading
WEEK EIGHT AND NINE DATE ……………… TOPIC: THE TRIAL BALANCE CONTENT Definition of the Trial Balance Uses of the Trial Balance Preparation of the Trial Balance The Trial Balance and Errors in the Books A trial balance is a list of all the balances extracted from the ledgers at a particular date, to test (verify,
WEEK SEVEN DATE ……………………… TOPIC: CLASSIFICATION OF ACCOUNTS CONTENT Classification of Accounts Division of the Ledger The Trial Balance An account is a ledger record, in a summarized form, of all transactions that have taken place with a particular person. An account can also be defined as a history of all transactions of similar nature.
WEEK FIVE AND SIX DATE ……………… TOPIC: Petty Cash Book CONTENT Definition and makes use of of the Petty Money E-book The Imprest System: – Which means, Traits and Benefits Preparation of the Petty Money E-book The Petty Cash Book That is the subsidiary ebook of account that’s used for recording low-value (petty) money funds
WEEK THREE AND FOUR DATE ……………… TOPIC: Three Column Cash Book CONTENT Reductions – Definition, Sorts, Options Causes for Granting Reductions Variations Between Commerce Reductions and Money Reductions Classification on Money Reductions The Three Column Money Guide Three Column Money Guide The sort of Money Guide mix low cost column on each sideto the money
WEEK ONE AND TWO DATE ……………………. TOPIC: THE CASH BOOK CONTENT Types of Cash Book Single Column Cash Book Two Column Cash Book Contra Entries Bank Overdraft The Cash Book is a subsidiary book of account that is used to record the payments and receipts of money (cash or cheques) to or by a business
Edu Delight Tutors Subuode Gbaga Gasline Ogun State 1st Term Examination FINANCIAL ACCOUNTING SSS 1 Section A Answer all questions correctly A document sent from the seller to the buyer showing the description, quantity, unit price and net value of goods bought is known as __________ (a)Receipt (b)invoice (c)cheque (d)credit note On which source document
FINANCIAL ACCOUNTING 1. Where there is no partnership agreement the Partnership Act 1890 section should be applied (a) 20 (b) 25 (c) 24 (d) 34 3. Which of the following is not true where there is no laid down agreement for the partnership? (a) Profits and losses to be shared equally (b) No interest on
Ss 3 Financial Accounting Exams 3rd term SECTION A Goodwill is a ——- (a) current asset ( b) intangible asset( c) current liability( d)fictitious asset Vendor means the seller of the (a) business (b) asset (c) liabilities (d) capital Capital reserve is( a) current assets( b) fixed assets (c) liabilities (d) equity The double entry
