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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.

52 questions JAMB 1611 WAEC 1757 CUSTOM 2

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Past Questions

52 questions

Question 1 of 20 52 total questions

Question 11

waec 1993

Which of the following accounts is not kept by a local government?

Adepartmental votes revenue account

Bdepartmental votes expenditure account

Cdeposit account

Dadvances account

Eprofit and loss account

View Explanation & Discuss

Question 12

waec 1993

Carriage inwards are

Acredited to the trading account

Bdebited to the trading account

Ccredited to the profit account

Ddebited o the profit and loss account

Edebited to the profit and loss appropriation account

View Explanation & Discuss

Question 13

waec 1993

The excess of current assets over current liabilities is

Aauthorised capital

Bnorminal capital

Cissed capital

Downers capital

Eworking capital

View Explanation & Discuss

Question 14

waec 1993

Gavon. Ltd. failed to record N2,000 wages. The error committed is that of

Aomission

Bcommission

Cprinciple

Dcompensation

Eoriginal entry

View Explanation & Discuss

Question 15

waec 1993

Income received in advance is shown in the balance sheet as

Acurrent asset

Bintangible asset

Ctangible asset

Dlong term liabilities

Ecurrent liabilities

View Explanation & Discuss

Question 16

waec 1993

Which of the following is a fictitious asset?

Aplant and mechinery

Bprepayment

Cpreliminary expenses

Dinvestment

Efictures and fittings

View Explanation & Discuss

Question 17

waec 1993

Which of the following is a Revenue Income?

Athe sale proceeds of an old table

Bthe sale proceeds of shares

Cloan refund

Ddebt recovered

Ethe sale proceeds of an old typewriter

View Explanation & Discuss

Question 18

waec 1993

Debenture is a

Acurrent asset

Bfixed asset

Clong term liability

Dcurrent liability

Etangible asset

View Explanation & Discuss

Question 19

waec 1993

Trade debts amounting to N300 were written off. Which of the following would be affected?

Apurchases

Bprofit and losses

Ccreditors

Dsales ledger

Etrading account

View Explanation & Discuss

Question 20

waec 1993

A partner's drawing is debited to

Aprofit and loss appropriation account

Binterest account

Cloan account

Dcurrent account

Etrading account

View Explanation & Discuss

Question 21

waec 1993

Which of the following does not belong to the group?

APlant and machinery

Bstock

Cgoodwill

Dpreliminary expenses

Eoverdraft

View Explanation & Discuss

Question 22

waec 1993

Which of the following is the most liquid?

Aland and buildings

Bcash at bank

Cmachinery

Dgoodwill

Efurnitures and fittings

View Explanation & Discuss

Question 23

waec 1993

Interest on Johnson's drawing is

AN500

BN300

CN200

DN150

EN100

View Explanation & Discuss

Question 24

waec 1993

Which of the following does not belong to the group?

Adiscount allowed

Bsalaries and wages

Csundry expenses

Drates and rent

Ereturn inwards

View Explanation & Discuss

Question 25

waec 1993

The amount of individual items on a government budget is called

Aa vote

Ba deposit

Ca investment

Da loan

Ea grant

View Explanation & Discuss

Question 26

waec 1993

which of the following is not a Nominal Account?

Arent

Bwages

Cdiscount

Dland

Einterest

View Explanation & Discuss

Question 27

waec 1993

Purchases in accounting refers to goods bought for

Arepairs

Bowner's use

Cresale

Ddecorating offices

Epermanent use

View Explanation & Discuss

Question 28

waec 1993

Goodwill is

Aa current asset

Ba current liability

Ca long term liability

Da fictitious asset

Ean intangible asset

View Explanation & Discuss

Question 29

waec 1993

The equivalent of a club's Receipt and payment account is

Acash account

Brevenue account

Ctrading account

Dsuspense account

Eprofit and loss account

View Explanation & Discuss

Question 30

waec 1993

The term bad debts means debts

Arecorded in wrong account

Bowed by an employee

Cpaid with fake currency

Dthat cannot be collected

Eowed by a supplier

View Explanation & Discuss

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