JAMB Accounting 2010 Objective — Question 9

Question 9 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.

Use the information below to answer questions 9 and 10 Three column Cash Book (Extract) — Date/Particulars/Cash/Bank entries showing Bal b/d, Cash sales, Fatima, Ahmad, Purchases, Electricity, Baffa, Khadija. 9. If Fatima was granted a discount of 2%, what will be the discount allowed? A. 20 B. 40 C. 60 D. 4

A. 20
B. 40Correct
C. 60
D. 4

Explanation

Discount allowed = 2% x N2,000 = N40.

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