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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.

1,757 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

1,757 questions
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Question 1 of 20 1,757 total questions
Question 331
waec 2011
The document used in government accounting to shoe evidence of cash receipt and payments is the
Abudget
Bwarrant
Cvote
Dvoucher
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Question 332
waec 2011
Which of the following errors will affect the totals of a trial balance?
Acompensating error
Bcomplete reversal of entry
Cerror in addition
Derror of original entry
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Question 333
waec 2011
In departmental accounts, rent is appointed on the basis of
Apurchases
Bfloor area occupied
Cnumber of personnel in each department
Dvolume of sales
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Question 334
waec 2011
Which of the following is not a subsidiary book?
Asales day book
Bpurchases day book
Cgeneral journal
Dtrial balance
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Question 335
waec 2011
When a transaction is completely left out from the books, it is an error of
Acommission
Bomission
Cprinciple
Dcompensation
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Question 336
waec 2011
Which of the following is not recorded in a partnership appropriation account?
Ainterest on capital
Bpartners drawings
Cshare of profit
Dinterest on drawings
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Question 337
waec 2011
The reduction in value of goodwill is
Aamortization
Bappreciation
Cdepletion
Ddepreciation
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Question 338
waec 2011
Another name for owner's equity is
Aloan
Bdebtots
Ccapital
Doverdraft
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Question 339
waec 2011
Expenses accured at the end of the accounting year is treated in the balance sheets as
Acurrent assets
Bcurrent liability
Cficed assets
Dlong-term liability
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Question 340
waec 2011
Which of the following is a capital expenditure?
Aextension of building
Brepairs of generator
Cpurchase of stock
Dpurchase of stationery
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Question 341
waec 2011
The two fundamental books of accounting are
Areturn inwards and outwards
Bjournal and ledger
Cdiscounts allowed and received
Dcredit note and debit note
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Question 342
waec 2010

Which of the following is a prime cost?

Aroyalty
Bsalary
Ccommission
Ddiscounts allowed
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Question 343
waec 2010

The amount for which a business is sold is that

Agoodwill
Bcosiderated fund
Cpurchase
Dconsiderations
Ecapital reserve
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Question 344
waec 2010

Money received from a customer is recorded in the customer's account and bank account; the accounting concept applied is

Abusiness entity
Bdual aspect
Cgoing-concern
Dmoney measurement
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Question 345
waec 2010

On 1/7/07, a trader owed wages of Le 2,000. During the year ended 30/6/08, wages of Le 2,400 were owed and Le 8,000 were paid. Using the information, wages recorded in the balance sheet as at 30/6/08 is

ALe 12,400
BLe 6,000
CLe 2,400
DLe 2,000
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Question 346
waec 2010

The collection and organization of data is

Aaccounting process
Bcentral processing
Cdata processing
Ddata manipulation
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Question 347
waec 2010
On 1/7/07, a trader owed wages of Le 2,000. During the year ended 30/6/08, wages of Le, 2,400 were owed and Le 8,000 were paid. Using the information, the wages recorded in the balance sheet as at 30/6/08 is
ALe 2,400
BLe 8,400
CLe 8,000
DLe 7,600
View Explanation & Discuss
Question 348
waec 2010

Which of the following does not form part of shareholders fund?

Aordinary shares
Bshares premium
Cprofit
Ddebenture
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Question 349
waec 2010

When shares are sold 'at par' it means they are issued at

Athe market value
Bthe nominal value
Ca discount
Da premium
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Question 350
waec 2010

Which of the following reserves is not used for bonus shares?

Arevolutional reserve
Bshare premium
Ccapital redemption reserve fund?
Dgeneral reserve
View Explanation & Discuss
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