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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.

46 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

46 questions
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Question 1 of 6 46 total questions
Question 21
waec 1990
Abid and Onik were in partnership sharing profit in the ratio 3 : 2. Their respective capitals were N4,000 and N2,000 and their drawings N1,800 and N1,200. Profit during the year was N5,400; before 5% interest on capital. No interest was chargeable on drawings. What was the balance carried down on Abid's current account?
AN940
BN1,460
CN2,040
DN3,060
EN3,600
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Question 22
waec 1990
Prime cost consist of
Afactory cost and cost of material
Boverhead cost and direct cost
Cdirect expenses, direct labour and direct material
Ddirect expenses and direct labour
Ecost of sale factory cost and cost of materials
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Question 23
waec 1990
Which of the following does not belong to the group?
Astraight line
Binsurance policy
Cdiminishing balance
Dreducing balance
Eaccumulated depreciation
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Question 24
waec 1990
Which of the following is not true of revenue expenditure? i. It is incurred in one period of account. ii. its full benefits are consumed in the period incurred. iii. it includes items for replacement and repairs iv. it does not include depreciation
Ai
Bi and ii
Cii
Diii
Eiv
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Question 25
waec 1990
A trial balance is a proof of
Aarithmetical accuracy of postings only
Baccurate narration of the journa entries
Caccuracy of the debt entry
Daccuracy of the credit entry
Eaccuracy of ledger entries
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Question 26
waec 1990
Prof. Bush had two accounts with Olive Brother agreed to have only one balance outstanding. By which of the following methods could this be effected?
AJournal entry
Bdouble entry
Csuspense account entry
Dadjustment entry
Econtra entry
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