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Accounting Past Questions

Study and practice Accounting past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

3,370 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

3,370 questions
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Question 1 of 10 3,370 total questions
Question 1681
waec 1989
A sales for N2,570 was recorded in the day book as N2,750. The error committed was
Acompensating error
Berror of omission
Cerror of principle
Derror of original entry
Eerroe of transportation
View Explanation & Discuss
Question 1682
waec 1989
A cheque for N400 drawn in favour of Jeje was posted to the credit of his account. The entry necessary to correct the error is
Aa debit suspense account N800,credit Jeje's account N800
Bdebit bank to correct N400, credit Jeje's account N400
Cdebit suspense account N400, credit Jeje's account N400
Ddebit Jeje's account N800, credit suspense account N800
Edebit Jeje's account N400, credit suspense account N400
View Explanation & Discuss
Question 1683
waec 1989

Which of the following accounts belongs to the private ledger?

Adrawing accounts
Bpremises account
Cmachinery account
Ddepreciation account
EV. Okafor's account
View Explanation & Discuss
Question 1684
waec 1989
Which of the following accounts belongs to the personal ledger?
Apurchases account
Bcapital account
Cmachinery account
Ddepreciation account
Erent and rentals
View Explanation & Discuss
Question 1685
waec 1989
Which of the following may have been recorded in the cash book and fail to appear in the Bank statement?
Abank charges and commission
Bcheques issued, presented and cashed
Cbank lodgements
Dpayments made by the bank on a tanding order
Eopening bank overdraft
View Explanation & Discuss
Question 1686
waec 1989
The petty cash book can have
Aa debit balance only
Ba credit balance only
Cboth debit and credit balances
Da debit or nil balance
Ea nill balance only
View Explanation & Discuss
Question 1687
waec 1989
The sales account is written up from
Acash sales to customers only
Bcredit sales to customers only
Ccredit sales less cash sales
Dcash sales less cash discounts
Eboth credit and cash sales
View Explanation & Discuss
Question 1688
waec 1989
When goods are sold for cash the credit entry goes to the
Atrader's account
Bcash book
Cpurchases account
Dsales account
Ecustomers account
View Explanation & Discuss
Question 1689
waec 1989
T. Trader sets aside from his private funds n1,500 for business purposes. The N1.500 would be referred to as
Acapital
Bloan
Creserve
Ddrawings
Eprofit
View Explanation & Discuss
Question 1690
waec 1989
The bank column in the cash book shows a credit balance of N180. This means
Aa total payment of N180
Ba gross receipt of N180
Ca left over of N180 in the bank
Dan overdraft of N180
Ea left over of N180 cash
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