Accounting Past Questions

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Past Questions

1,611 questions
Question 1 of 20 1,611 total questions
Question 201
jamb 2018

what is the subscription to be charged to income and expenditure account?

AN20,000
BN30,000
CN34,000
DN36,000
View Explanation & Discuss
Question 202
jamb 2018

The N6,000 subscription received is?

Acapital
Bfixed asset
Ccurrent liability
Dcurrent asset
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Question 203
jamb 2018

A club received rent N10,000 and donation of N30,000. it paid N6,000 for entertainment and is still owing N16,000 . The balance of the receipts and payments account is?

AN14,000
BN24,000
CN8,000
DN42,000
View Explanation & Discuss
Question 204
jamb 2018

The main difference between the ordinary and preference shareholders is that?

Athe former have voting rights while the latter do not
Bin the case of winding up, the former are paid first before the latter
Cthe latter are not members of the company while the former are
Dthe former receives dividends while the latter do not
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Question 205
jamb 2018

for an incomplete record to provide necessary information, it must be converted to?

Adouble entry
Bsingle entry
Ccomplete records
Dstatement of affairs
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Question 206
jamb 2018

lubricating oil and spare parts of machines are example of?

Aindirect expense
Bdirect expense
Cindirect material
Ddirect material
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Question 207
jamb 2018

what is the purchase ledger balance?

AN29,000
BN24,000
CN4,000
DN23,000
View Explanation & Discuss
Question 208
jamb 2018

calculate the sales ledger balance

AN13,000
BN10,000
CN 6,000
DN3,000
View Explanation & Discuss
Question 209
jamb 2018

from the data above, compute the prime cost. 

AN6,500
BN 8,500
CN6,000
DN7,500
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Question 210
jamb 2018

The main objective of accounting report is to provide information about?

Athe efficacy of assets
Ba company's shareholding
Ccompany's economic resources
Dan entity's management
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Question 211
jamb 2018

The control account is used in facilitating?

Athe various location of errors in the various accounts
Bup to date bank transactions
Cthe payment of debts and liabilities of the firm
Dassets distribution with respect to income
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Question 212
jamb 2018

The excess of sales over cost of goods sold is?

Agross sales
Bgross profit
Cnet profit
Dnet sales
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Question 213
jamb 2018

Determine the current liabilities.

AN8,553
BN8,263
CN7,940
DN1,228
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Question 214
jamb 2018

The value of the current assets will be?

AN10,361
BN10,651
CN17,396
DN17,848
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Question 215
jamb 2018

The major advantages of an imprest system is that it ?

Aensures a proper accountability for every expenditure
Btrains the young accountants in the preparation for greater responsibility
Crelieves the chief cashier of the numerous petty cash payments
Dserves as an analysis column for every expenses
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Question 216
jamb 2018

which of the following  affects the accuracy and authenticity of trial balance? 

Aerror of ommission
Berror of commission
Cerror of transposition
Derror of original entry
View Explanation & Discuss
Question 217
jamb 2018

In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?

Avirement
Bfund accounting
Cconsolidated fund
Dfinancial regulation
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Question 218
jamb 2018

The accounting entries used to record a cheque issued by a business is to?

Adebit cash book and credit drawer
Bcredit cash book and debit drawer
Cdebit cash book and credit suspense account
Dcredit cash book and debit suspense account
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Question 219
jamb 2018

The yearly depreciation using the straight line method would be

AN8,800
BN6,500
CN5,200
DN4,400
View Explanation & Discuss
Question 220
jamb 2018

Mrs. Okoro who lives in the riverine community of Rivers State makes her living through crabbing and fishing. This type of occupation is? 

Acommercial
Bmanufacturing
Cservice
DExtractive
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