ACC 407 NOUN TMA Past Questions & Answers 2019

1. Question
A crossed cheque restricts the payee to
Answer
Pay the amount into his bank account

2. Question
Which of the following does not appear in the bank statement?
Answer
Uncredited cheques

3. Question
All the following should be debited in the Receivables’ Control Account, except
Answer
Sales ledger contra

4. Question
A …….. is a provisional account.
Answer
A suspense account
5. Question
When a wrong account in the same ledger is debited or credited, it is called …
Answer
Error of Commission

6. Question
One of the Errors that affect the Trial Balance is
Answer
computation error

7. Question
The purpose of trial balance includes the following, except…….
Answer
communicate information to the users

8.Question
The books that exist to provide periodic totals for posting into the ledger are, except……
Answer
Journal proper

9. Question
The accounting convention that says that accountants should not record profits until they are realised is….
Answer
Prudence convention

10. Question
The accounting concept whereby a business has no plans to cut down significantly any major line of its operations in the nearest future is called.
Answer
The Going Concern Concept

11. Question
To avoid superfluous pressure a cooperative auditor should try to be
Answer
Objective

12. Question
The reasons for co-operative audit are, except
Answer
To know who to give loan to

13. Question
The examination of the efficiency, effectiveness, and economy of an organization's use of resources is...
Answer
Value for money audit

14. Question
A crossed cheque restricts the payee to
Answer
Pay the amount into his bank account

15. Question
Which of the following does not appear in the bank statement?
Answer
Uncredited cheques

16.Question
All the following should be debited in the Receivables’ Control Account, except
Answer
Sales ledger contra

17.Question
A …….. is a provisional account.
Answer
A suspense account

18. Question
When a wrong account in the same ledger is debited or credited, it is called …
Answer
Error of Commission

19.Question
One of the Errors that affect the Trial Balance is
Answer
computation error

20. Question
The purpose of trial balance includes the following, except…….
Answer
communicate information to the users
 
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