Accounting Past Questions

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3,370 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

3,370 questions
Question 1 of 20 3,370 total questions
Question 371
jamb 2018

for an incomplete record to provide necessary information, it must be converted to?

Adouble entry
Bsingle entry
Ccomplete records
Dstatement of affairs
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Question 372
jamb 2018

lubricating oil and spare parts of machines are example of?

Aindirect expense
Bdirect expense
Cindirect material
Ddirect material
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Question 373
jamb 2018

what is the purchase ledger balance?

AN29,000
BN24,000
CN4,000
DN23,000
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Question 374
jamb 2018

calculate the sales ledger balance

AN13,000
BN10,000
CN 6,000
DN3,000
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Question 375
jamb 2018

from the data above, compute the prime cost. 

AN6,500
BN 8,500
CN6,000
DN7,500
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Question 376
jamb 2018

The main objective of accounting report is to provide information about?

Athe efficacy of assets
Ba company's shareholding
Ccompany's economic resources
Dan entity's management
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Question 377
jamb 2018

The control account is used in facilitating?

Athe various location of errors in the various accounts
Bup to date bank transactions
Cthe payment of debts and liabilities of the firm
Dassets distribution with respect to income
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Question 378
jamb 2018

The excess of sales over cost of goods sold is?

Agross sales
Bgross profit
Cnet profit
Dnet sales
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Question 379
jamb 2018

Determine the current liabilities.

AN8,553
BN8,263
CN7,940
DN1,228
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Question 380
jamb 2018

The value of the current assets will be?

AN10,361
BN10,651
CN17,396
DN17,848
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Question 381
jamb 2018

The major advantages of an imprest system is that it ?

Aensures a proper accountability for every expenditure
Btrains the young accountants in the preparation for greater responsibility
Crelieves the chief cashier of the numerous petty cash payments
Dserves as an analysis column for every expenses
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Question 382
jamb 2018

which of the following  affects the accuracy and authenticity of trial balance? 

Aerror of ommission
Berror of commission
Cerror of transposition
Derror of original entry
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Question 383
jamb 2018

In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?

Avirement
Bfund accounting
Cconsolidated fund
Dfinancial regulation
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Question 384
jamb 2018

The accounting entries used to record a cheque issued by a business is to?

Adebit cash book and credit drawer
Bcredit cash book and debit drawer
Cdebit cash book and credit suspense account
Dcredit cash book and debit suspense account
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Question 385
jamb 2018

The yearly depreciation using the straight line method would be

AN8,800
BN6,500
CN5,200
DN4,400
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Question 386
jamb 2018

Mrs. Okoro who lives in the riverine community of Rivers State makes her living through crabbing and fishing. This type of occupation is? 

Acommercial
Bmanufacturing
Cservice
DExtractive
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Question 387
jamb 2018

If the scrap value is presently N15,000, what will be the yearly depreciation using the straight line method?

AN4,000
BN7,000
CN11,000
DN24,000
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Question 388
jamb 2018

The total credit sales for a period can be extracted from the?

ACash book
BSales day book
CPetty cash book
DReturns inwards
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Question 389
jamb 2018

The major source of document which enables employer to calculate  the employee wages  is the?

Anorminal roll of employees
Brecords of number of hours worked
Ceffort of the employee
DRecord of independence per employee
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Question 390
jamb 2018

Which of the following is not an inventory costing method?

AFIFO
BLIFO
CAverage cost method
DLILA
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