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.

48 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

48 questions
Question 1 of 8 48 total questions
Question 21
jamb 2012

In a three-column cash book, dishonored cheques will be shown on the

Abank column (debit)
Bbank column(credit)
Ccash column(debit)
Dcash column(credit)
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Question 22
jamb 2012

Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.
The record in Jide's book would be to debit

Apurchases #12,000 and credit Ibrahim #12,000
Bpurchases #12,000 and credit sugar account #12,000
CJide #12,000 and credit purchases
DIbrahim #12,000 and sugar account #12,000
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Question 23
jamb 2012

Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.
In the book of Ibrahim, the entry to record the transaction would be to debit

Asugar account #12,000 and credit Jide #12,000
BJide #12,000 and credit sales account #12,000
CIbrahim #12,000 and credit Jide #12,000
Dsugar account #12,000 and credit Ibrahim #12,000
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Question 24
jamb 2012

Akirika bought a motor van for his business by cash. The entries are to debit

Amotor van and credit Akirika
Bsales and credit Akrika
Cmotor van and credit cash
Dcash and credit motor van
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Question 25
jamb 2012
The capital of a sole trader can be increased by
Adebiting the capital account
Bcrediting the capital account
Cdebiting the cash account
Dcrediting the cash account
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Question 26
jamb 2012
The correct posting in a double entry system of account when there is an increase in double assets, expenses, capital or liabilities is to debit
Acapital and debit liabilities
Bliabilities and credit assets
Cassets and credit capital
Dcapital and credit assets
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Question 27
jamb 2012

An accountant must not only be interested in record keeping but also in

Athe application of professional competency
Bthe accuracy of postings
Cthe casting of financial figures
Deffective preparation of balance sheet
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Question 28
jamb 2012

The basis upon which assets of an organization is valued is the

Ahistorical concept
Bbusiness entity concept
Cperiodicity concept
Dmateriality concept
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