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
Question 1 of 10 50 total questions
Question 21
jamb 2009

What is the balance of cash with the petty cashier at the end of period 1?

A220
B780
C980
D1780
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Question 22
jamb 2009

Use the information above to answer question

Period 1:
........Cash to petty cashier.............N1000
........Petty cashier pays out............N780

Period 2:
........Petty cashier pays out............N840

If the float is increased to N1200, how much should the petty cashier receive after period 2?

A160
B840
C1000
D1040
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Question 23
jamb 2009

Use the information to answer below to answer questions 

i Operating machines
ii Furniture
iii Fixtures and fitting
iv Loan from friends
V Creditors

Find the fixed assets?

Ai, ii and v
Bi, ii and iv
Ci, ii and iii
Diii, iv and v
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Question 24
jamb 2009

Use the information to answer below to answer questions 

i Operating machines
ii Furniture
iii Fixtures and fitting
iv Loan from friends
V Creditors

What are the current liabilities?

Ai and ii
Biv and v
Ciii and v
Dii and iv
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Question 25
jamb 2009

If Odukoya takes money out of business bank account for his own private use, the effect of the transaction is?

Aincrease in assets and increase in capital
Bincrease in liabilities and decrease in capital
Cdecrease in capital and increase in assets
Ddecrease in capital and decrease in assets
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Question 26
jamb 2009
Given:

Capital...............................N2375 000
Debtors...............................N495 000
Motor vehicle.........................N870 000
Creditors.............................N245 000
Prepayment............................N500 000
Bills receivable......................N505 000
Furniture.............................N150 000

What is the total debit for the trial balance?
AN4 690 000
BN2 620 000
CN2 520 000
DN1 565 000
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Question 27
jamb 2009
Musa, a prepaid customer of XYZ and KLM, bought N1500 recharge card from XYZ, and N2000 recharge recharge card from KLM, for business calls. The entry to record these transaction is debit?
Atelephone N3,500 credit XYZ and KLM, N3,500
Btelephone N3,500, credit cash N3,500
Csundries N3,500, credit KLM N3,500
Dsundries N3,500, credit telephone N3,500
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Question 28
jamb 2009

The process of bookkeeping includes records produced from?

Aledgers
Bsource documents
Cminutes of meeting
Dintuitive reasoning
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Question 29
jamb 2009

The accounting convention which states that the performance of a business should be determined by matching all expenses against revenues is?

Aaccruals
Bmateriality
Cobjectivity
Dperiodicity
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Question 30
jamb 2009

Which of the following branches of accounting was first developed?

ACost accounting
BFinancial acounting
CManagement accounting
DPetroleum accounting
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