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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.

50 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

50 questions
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Question 1 of 10 50 total questions
Question 21
jamb 2001
In a petty cash book, the closing balance was N235, imprest N1,250, while the stationery expenses were N655. How much was paid for other general expenses?
AN360
BN355
CN350
DN305
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Question 22
jamb 2001
A cash book had opening balance of N15,200 closing balance N18,400 and total cash received during the period N36,000. What was the amount of cash paid out during the same period?
AN17,800
BN19,600
CN29,200
DN32,800
View Explanation & Discuss
Question 23
jamb 2001
Hauwa Ltd bought 10bags of rice for N500 each.
The company was given 5% AND 12% trade and cash discounts respectively. What will be recorded as discount received in the company's book?
AN250
BN570
CN600
DN850
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Question 24
jamb 2001
The accuracy of journalist is checked by?
Aensuring that debit totals equal credit totals
Bposting all journal entries to ledger accounts
Cadding all figures in the debit column
Dcomparing accounts in the ledger against the journals
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Question 25
jamb 2001
Use the information below to answer question.
Given:

Fixed assets N85,600
Sales N197,000
Stock N34,300
Salaries N37,000
Purchases N127,700
Share capital N120,000
Creditors N16, 050
Motor expenses N10,500
Debtors N25,000

Determine the total of the trial balance?
AN335,050
BN333,050
CN323,050
DN230,550
View Explanation & Discuss
Question 26
jamb 2001
Use the information below to answer question.
Given:

Fixed assets N85,600
Sales N197,000
Stock N34,300
Salaries N37,000
Purchases N127,700
Share capital N120,000
Creditors N16, 050
Motor expenses N10,500
Debtors N25,000

What is the cash balance?
AN12,095
BN12,590
CN12,905
DN12,950
View Explanation & Discuss
Question 27
jamb 2001
If liabilities amounted to N12,045, other assets N36,800and equity N26,896, the cash at hand would be?
AN2,241
BN2,214
CN2,141
DN2,114
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Question 28
jamb 2001
The main objective of accounting report is to provide information about?
Aa company's shareholding
Ban entity's management
Cthe efficacy of assets
Da company's economic resources
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Question 29
jamb 2001
Cost accounting entails the provision of information?
Afor investment purposes
Bfor descision making
Cto shareholders
Dto stockholders
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Question 30
jamb 2001
The current growth in the volume of trading and financial dealings in Nigeria is helped by?
Aincreased financial activities
Bgovernment intervention
Ccredit as a factor in business
Dpayment for goods in cash
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