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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
waec 1996
An equipment costing N60,000 was bought on 1st January 1991. Depreciation was provided at 20 percent annually on straight line method. It was straight line method. it was sold on 30th June 1994 for N15,750. The net book value of the equipment at the time sale was
AN48,000
BN36,000
CN36,000
DN24,000
EN12,000
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Question 22
waec 1996
An equipment costing N60,000 was bought on 1st January 1991. Depreciation was provided at 20 percent annually on straight line method. It was straight line method. it was sold on 30th June 1994 for N15,750. Its accumulated depreciation provision provision at the time of sale was
AN48,000
BN42,000
CN36,000
DN24,000
EN12,000
View Explanation & Discuss
Question 23
waec 1996
Mr. B sod goods worth N200 on credit to Mr. C. The credit sales should be entered into
Asales day book
Btrading account
Cprofit and loss account
Dpurchases day book
EMr. B's Account
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Question 24
waec 1996
Mr. B sod goods worth N200 on credit to Mr. C. Mr. B should debit this to
Aprofit and loss account
Bmanufacturing account
Csales account
DMr. C's account
EMr. B's account
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Question 25
waec 1996
Payment is shown in the Balance Sheet as
ACurrent asset
Bliability
Ccapital
Dfixed asset
Einvestment
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Question 26
waec 1996
Which of the following fixed assets is not depreciable?
Abuilding
Btools
Cland
DMotor van
EFurniture
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Question 27
waec 1996
A sales journal is used to record
Asales expenses
Bcash sales
Ccredit sales
Dsales return
Esales commission
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Question 28
waec 1996
Which of the following is not a cause for the difference between bank statement balance and cash book balance?
Abank charges
Bpresented cheque
Cdirect transfer
Dstanding order
Euncredited logements
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Question 29
waec 1996
Which of the following is the book of original entry for all payments and receipts whether by cash or cheque?
Asales day book
Bpurchases day book
Ccash book
Dcheque book
Ejournal book
View Explanation & Discuss
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