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
waec 2018

A reduction n price to encourage prompt payment is........

Atrade discount
Bquantity discount
Ccash discount
Dseasonal discount
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Question 22
waec 2018

Entries in the purchase journal are transferred to the .............

Areceivable ledger
Bpayable ledger
Cgeneral ledger
Dprivate ledger
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Question 23
waec 2018

The apportionment of the cost of a fixed asset to the profit and loss account is termed?

Aexpense
Bdepreciation
Closs
Dappreciation
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Question 24
waec 2018

The claim of a proprietor of a business entity on its assets is................

Alaibilities
Bcapital
Cdrawings
Dfunds
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Question 25
waec 2018

A document forwarded to a supplier showing unsatisfactory goods is................................

Adebit note
Binvoice
C
Dwaybill
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Question 26
waec 2018

Credit notes received are source documents for.........

Areturns inwards journal
Breturns outwards journal
Cpurchase journal
Dsales journal
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Question 27
waec 2018

Which of the following transactions is a revenue expenditure?

Apurchase of plant
Bpurchase of a new engine
Cconstruction of office wall
Dpurchase of fuel for vehicle
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Question 28
waec 2018

Which of the following items is found on the debit side of the trial balance?

Aprovision for doubtful debts
Bdiscount allowed
Cdiscount received
Dreturns outwards
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Question 29
waec 2018

One of the characteristics of useful accounting information is--------

Aprofitability
Bcomparability
Cefficiency
Dliquidity
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Question 30
waec 2018

Investors in a business are mainly interested in firm's--------

Aliquidity
Bdebt
Cmanagement
Dprofitability
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