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.

1,611 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

1,611 questions
Question 1 of 20 1,611 total questions
Question 11
jamb 2025

An example of a self-balancing account is the

Acontrol account
Bcreditors account
Csuspense account
Ddebtors account
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Question 12
jamb 2025

Which of the following is determined in the Trading Account?

ANet profit
BPrime cost
CFactory overheads
DCost of goods sold
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Question 13
jamb 2025

Which of the following is not a credit item in the Sales Ledger Control Account?

ADishonoured cheque
BDiscount allowed
CCash received
DReturns inward
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Question 14
jamb 2025

The class of share to which payment of dividend depends on profit is

Apreference shares
Bbonus shares
Cforfeited shares
Dordinary shares
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Question 15
jamb 2025

Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000. 

The following transactions took place for a particular month:

Dec 1 petty cash in hand 517
1 petty cash to imprest 3,483
6 Bought notebooks 328
7 Paid wages 914
14 Bought postage stamps 375
16 Paid to J. Thomas, a creditor 536

21 Paid wages 928
23 Bought envelopes 437
27 Bought postage stamps 210

Amount to be posted to the personal ledger is 

A#765
B#536
C#517
D#585
View Explanation & Discuss
Question 16
jamb 2025

Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000. 

The following transactions took place for a particular month:

Dec 1 petty cash in hand 517
1 petty cash to imprest 3,483
6 Bought notebooks 328
7 Paid wages 914
14 Bought postage stamps 375
16 Paid to J. Thomas, a creditor 536

21 Paid wages 928
23 Bought envelopes 437
27 Bought postage stamps 210

Amount spent on stationery is

A#585
B#437
C#538
D#765
View Explanation & Discuss
Question 17
jamb 2025

Use the following information to answer questions 52 to 54
Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000. 

The following transactions took place for a particular month:

Dec 1 petty cash in hand 517
1 petty cash to imprest 3,483
6 Bought notebooks 328
7 Paid wages 914
14 Bought postage stamps 375
16 Paid to J. Thomas, a creditor 536

21 Paid wages 928
23 Bought envelopes 437
27 Bought postage stamps 210

Amount to be reimbursed at the end of the month is

A#4,000
B#3,728
C#1,842
D#3,483
View Explanation & Discuss
Question 18
jamb 2025

Production cost is 

A#56,300
B#53,000
C#55,800
D#57,300
View Explanation & Discuss
Question 19
jamb 2025

Factory cost of production

A#52,750
B#53,300
C#56,300
D#45,500
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Question 20
jamb 2025

Prime cost is 

A#53,000
B#46,300
C#52,750
D#49,950
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Question 21
jamb 2025

The cost of raw materials consumed is

A#43,500
B#45,500
C#45,000
D#53,000
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Question 22
jamb 2025

Which of the following is used before the appropriation bill is approved?

Asupplementary general warrant
Bwarrant transfer
Cprovisional general warrant
Dreserved expenditure warrant
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Question 23
jamb 2025

Cash receipts and payments involving discounts are entered in

Atwo-column cash book
Banalytical cash book
Cthree-column cash book
Dpetty cash book
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Question 24
jamb 2025

Into how many major types can general-purpose computers be classified?

Afour
Bsix
Cfive
Dthree
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Question 25
jamb 2025

Which of the following is a spreadsheet application?

AExcel
BInternet
CWindows
DWord
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Question 26
jamb 2025

In bank reconciliation, when a cash book shows a credit balance, uncredited cheques are:
I. deducted from the cash book balance
II. added to the bank statement balance
III. added to the cash book balance

AI and II only
BIII only
CII and III only
DI, II, and III
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Question 27
jamb 2025

Which of the following describe trial balance?

AIt is a special account
BIt reveals the financial position of a business
CIt is a list of accounting balances on the books
DIt shows all the entries in the books
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Question 28
jamb 2025

The objective of a departmental accounts is to ascertain the

Adepartmental labour turnover
Bdepartmental performance
Cstock held by the departmental
Dnumber of staff in the department
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Question 29
jamb 2025

In partnership dissolution, an asset taken over by a partner is debited to

Apartners capital account and credited to realization account
Brealization account and credited to capital account
Cpartners capital account and credited to asset account
Dasset account and credited to realization account
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Question 30
jamb 2025

Receipts and payments account discloses

Acreditors
Bdebtors
Ccapital items
Dprepayment
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