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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 2011
Use the information below to answer question .

Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.

Calculate the cash discount?
AN60
BN90
CN40
DN100
View Explanation & Discuss
Question 22
jamb 2011
Use the information below to answer question .

Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10% and a cash discount of 15% were provided.

Find the total amount paid?
AN260
BN300
CN200
DN380
View Explanation & Discuss
Question 23
jamb 2011

The medium of correcting errors whose differences are shown in the trial balance is by the use of?

Adebtors' account
Bcreditor's account
Csuspense account
Dledger account
View Explanation & Discuss
Question 24
jamb 2011
The major feature of a journal is that it has?
Asix columns, date, particulars, folio, amount, debit and credit
Bfive columns, date particulars, folio, debit and credit
Cthree columns, date particulars and folio
Dfour columns, date particulars, folio and amount
View Explanation & Discuss
Question 25
jamb 2011
Given:

Light expenses...................N400
Purchases........................N3,000
Sales............................N1,200
Creditors........................N2,250
Debtors..........................N50

Calculate the total of the trial balance?
AN4,250
BN3,500
CN4,300
DN3,450
View Explanation & Discuss
Question 26
jamb 2011
i) Deducted the smaller side figure from the bigger side figure .
ii) Add up both side
iii)Take the difference to the smaller and add to the smaller figure

The correct procedure for balancing account is?
Aii, i and iii
Bi, iii and ii
Cii, iii and i
Di, ii and iii
View Explanation & Discuss
Question 27
jamb 2011
The principle of double entry system ensures?
Amathematical accuracy in trial balance
Bbalances at the bank
Cincrease in the assets and liabilities
Dbalance of cash account
View Explanation & Discuss
Question 28
jamb 2011
In a trial balance, income and liabilities are?
Adebited and credited respectively
Bcredited
Ccredited and debited respectively
Ddebited
View Explanation & Discuss
Question 29
jamb 2011
The historical development of accounting reveals that it?
Adeals with debit and credit of items
Bis a product of financial development
Cis a product of its own evironmnent
Dis an ideal subject for finacial development
View Explanation & Discuss
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