Accounting Past Questions

Question 351

waec 2010

Use the following information to answer the given question
\(\begin{array}{c|c} \text{1/1/06 Debtors} & D2,600\\ \text{1/1/06 Provision for bad debts} & D60\\ \text{31/12/06 New provision provision for bad debts} & \text{5% on debtors}\end{array}\)
What is the amount of the new provision for bad debts?

AD130

BD127

CD124

DD120

View Explanation & Discuss

Question 352

waec 2010

Which of the following is found in the general ledger?

Acapital account

Bsales accounts

Cloan account

Ddrawings account

View Explanation & Discuss

Question 353

waec 2010

In the preparation of bank reconciliation statement cheque are

Aadded to the balance as per bank statement

Bdeduced from the the balance as per bank statement

Cadded to the balance as per bank statement

Dignored totally

View Explanation & Discuss

Question 354

waec 2010

A temporary difference of bank occurs in only one account with the second figure stated, this is an error of

Aadjustment account

Bsuspense account

Cimprest account

Dappropriation account

View Explanation & Discuss

Question 355

waec 2010

The balance in a sales Ledger Counter Account indicates the

Adifference between debtors and creditors

Btotal sales

Ctotal purchases

Dtotal debtors

View Explanation & Discuss

Question 356

waec 2010

Which of the following is added to the proprietor's capital?

ANet profit

Bgross profit

Cnet sales

Dgross sales

View Explanation & Discuss

Question 357

waec 2010

Where a wrong figure occurs in only one account with the second figure correctly stated, this is an error of

Atransposition

Bcompensation

Comission

Dcommission

View Explanation & Discuss

Question 358

waec 2010

Use the following information to answer the question given
\(\begin{array}{c|c} \text{Jan. 1} & \text{₦}\\ \hline \text{1/1/08 Capital introduced by cash} & 50,000 \\ \text{2/1/08 Bought goods for retail by cash} & 10,000\\ \text{3/1/08 Sold fixtures by cash} & 5,000\\ \text{4/1/08 Sold goods to Lagbaja on credit} & 3,000\\ \text{5/1/08 Bought goods on credit from Tamedu}& 8,000\end{array}\)
Balance in the Capital Account at 5/1/08 is

A₦60,000

B₦50,000

C₦35,000

D₦5,000

View Explanation & Discuss

Question 359

waec 2010

Use the following information to answer the question given
\(\begin{array}{c|c} \text{Jan. 1} & \text{₦}\\ \hline \text{1/1/08 Capital introduced by cash} & 50,000 \\ \text{2/1/08 Bought goods for retail by cash} & 10,000\\ \text{3/1/08 Sold fixtures by cash} & 5,000\\ \text{4/1/08 Sold goods to Lagbaja on credit} & 3,000\\ \text{5/1/08 Bought goods on credit from Tamedu}& 8,000\end{array}\)
Balance in Purchases account at 5/1/08 is

A₦23,000

B₦18,000

C₦10,000

D₦8,00

View Explanation & Discuss

Question 360

waec 2010

Use the following information to answer the question given
\(\begin{array}{c|c} \text{Jan. 1} & \text{₦}\\ \hline \text{1/1/08 Capital introduced by cash} & 50,000 \\ \text{2/1/08 Bought goods for retail by cash} & 10,000\\ \text{3/1/08 Sold fixtures by cash} & 5,000\\ \text{4/1/08 Sold goods to Lagbaja on credit} & 3,000\\ \text{5/1/08 Bought goods on credit from Tamedu}& 8,000\end{array}\)
Cash balance at 5/1/08 is

A₦50,000

B₦40,000

C₦45,000

D₦30,000

View Explanation & Discuss

Question 361

waec 2010

Which of the following is not found in a trial balance?

Aopening stock

Bclosing stock

Ccapital

Drent paid

View Explanation & Discuss

Question 362

waec 2010

A ledger is a

Aprincipal book of accounts

Bbook of original entry

Crecord of credit transactions

Dsummary of entries

View Explanation & Discuss

Question 363

waec 2010

Which of the following is the reason why a seller allows a customer cash discount?

Aagreement to become a regular customer

Bintroducing a new customer to the seller

Csettlement of account within a stated period

Dplacing a larger order

View Explanation & Discuss

Question 364

waec 2010

A trial balance is prepared to

Adetect fraud

Bascertain losses in a trading period

Cdetermine opening capital

Dtest arithmetical accuracy of ledger entries

View Explanation & Discuss

Question 365

waec 2010

Which of the following is not an external user of accounting information?

Amanagement

Bcreditors

Cshareholders

Dgovernment

View Explanation & Discuss

Question 366

waec 2009

A stock as a form of capital of a company comprises

Atons of merchandise

Bunits of goods

Cunits of shares

Dbundles of wares

View Explanation & Discuss

Question 367

waec 2009

A debenture holder is a

Acreditor

Bpromoter

Cdebtor

Dshareholder

View Explanation & Discuss

Question 368

waec 2009

Abu, a debtor to Dania, owed ₦10,500 at the start of the month. He paid cash of ₦40,005 during the month and received additional credit sales of ₦20,000.Using the information, Abu's balance at the end of the month is

A₦30,505 cr.

B₦9,505 cr.

C₦9,505 dr.

D₦30,500 dr.

View Explanation & Discuss

Question 369

waec 2009

Abu, a debtor to Dania, owed ₦10,500 at the start of the month. He paid cash of ₦40,005 during the month and received additional credit sales of ₦20,000.Using the information, In Dania's books, to record the payment of ₦30,505 cr.40,005 by Abu

Adebit cash account, credit Abu's account

Bdebit Abu's account, credit cash account

Cdebit cash account, credit sales account

Ddebit sales account, credit cash account,

View Explanation & Discuss

Question 370

waec 2009

Which of the following is debited to partner's current account?

Acapital

Binterest on capital

Cdrawings

Dshare of profit

View Explanation & Discuss

Accounting Past Questions

Take a test

Custom CBT

JAMB CBT Simulator

WAEC CBT Practice 2026 Simulator

NECO CBT Practice 2026 Simulator

Past Questions

Question Navigator

MathsFaculty