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.

76 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

76 questions
Question 1 of 16 76 total questions
Question 31
jamb 2024

An example of accounts in the nominal ledger is

Adebtors
Bdrawings
Ccreditors
Dmachineries
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Question 32
jamb 2024

Suppliers accounts are found in the

Aprivate
Bpurchase
Cnominal
Dgeneral
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Question 33
jamb 2024

Rent accrued at the end of an accounting period is a

Acurrent asset
Bfixed asset
Ccurrent liability
Dcapital
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Question 34
jamb 2024

The term "set off" in control account is also called

Abrought forward
Bcontra entry
Cdirect transfer
Dbad debt
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Question 35
jamb 2024

Pending the location of an error, the difference in the Trial Balance is posted to a __

Acontrol
Bprofit and loss appropriation
Cprofit and loss
Dsuspense
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Question 36
jamb 2024

The following are causes of discrepancies between the cash book and the bank statement balances except

Aerrors
Bbank charges
Cstanding order
Dbank deposit
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Question 37
jamb 2024

In government accounting, money allocated to each head and sub-heads is referred to as      

Aallocation
Bimprest
Cvote
Dfloat
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Question 38
jamb 2024

The following accounts have debit balances except

Ashare premium
Brents and rates
Creturn inwards
Dadvertising
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Question 39
jamb 2024

A commission of #5000 to a sales manager was debited to debtors account. This is an error of

Acommission
Bprinciple
Coriginal entry
Dcompensation
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Question 40
jamb 2024

An amount paid in cash to John is Dr to John and Cr to

Abank
Bdebtors
Ccash
Dcapital
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Question 41
jamb 2024

Tolu purchased a machine for #6,000 on credit. The effect is to debit.. supplier
and credit the account of the

Amachinery
Bcreditor
Ccash
Ddebtor
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Question 42
jamb 2024

The short term solvency of a company is determined with ___ ratio

Adebtors to equity
Bcurrent
Cacid test
Dgross profit margin
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Question 43
jamb 2024

A public limited liability company can get additional fund through the issue of

Acheque
Baccumulated fund
Cconsolidated fund
Ddebenture
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Question 44
jamb 2024

An example of fictitious assets is

Astock
Boverdraft
Cgoodwill
Dprofit
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Question 45
jamb 2024

Goods bought on credit are first entered in the

Acash book
Bjournal proper
Csales day book
Dpurchases day book
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Question 46
jamb 2024

The amount by which assets exceeds liabilities is

Acapital
Bpremium
Cbonus
Dprovision
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