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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.

49 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

49 questions
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Question 1 of 9 49 total questions
Question 21
jamb 2005
five hundred naria monthly is allowed on an imprest system. The following transactions took place.

Period1:
Cash advanced to petty cashier......N500
Petty cashier paid out: stamp.......N200
Newspaper...........................N250

Period 2:
Cash to petty cashier...............N450
Cashier paid for writing materials..N350

How much should the petty cashier receive after period 2?
AN150
BN250
CN350
DN500
View Explanation & Discuss
Question 22
jamb 2005
Yahya,s bank account shows a credit balance of N1500,000. He paid N1700,000 into the bank.
What is his expected balance?
ACredit balance of N 200,000
BDebit balance of N 200,000
Ccredit balance of N 3 200,000
DDebit balance of N3 200,000
View Explanation & Discuss
Question 23
jamb 2005
Mr Bassey purchased a motor vehicle for use in his business and debited the purchases account with the same value. This is an error of?
Aomission
Bprinciple
Ccommission
Doriginal entry
View Explanation & Discuss
Question 24
jamb 2005
What are the appropriate recording procedures for entries in the trial balance?
Asource documents, ledgers and trial balance
BLedgers, trial balance and source documents
CLedgers, source documents and trial balance
DCash account, ledgers and trial balance
View Explanation & Discuss
Question 25
jamb 2005
Given:

Rent..............N10,000
Rates.............N5,000
Capital...........N50,000
Salaries..........N14,000
Cash..............N26,000
Creditors..........N5,000

The total trial balance is?
AN110,000
BN65,000
CN55,000
DN45,000
View Explanation & Discuss
Question 26
jamb 2005
Given:

Liabilities..............N23,700
Current assets...........N20,300
Fixed assets.............N64,500

What is the capital introduced by the proprietor?
AN40,800
BN61,100
CN88,200
DN108 500
View Explanation & Discuss
Question 27
jamb 2005
The journal entries for the purchase of stock on credit are to debit?
Astock account and credit cash account
Bstock account and credit liability account
Courchase account and credit liability account
Dsuspense account and credit cash account
View Explanation & Discuss
Question 28
jamb 2005
The concept that has much influence over asset valuation and income determination is?
Aentity
Brealization
Cconversactism
Dmatching
View Explanation & Discuss
Question 29
jamb 2005
The double principle of accounting was developed by?
AFrank Wood
BLuca Pacioli
CAkintola Williams
DWilliam Pickles
View Explanation & Discuss
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