Log In SignUp
Classroom

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.

98 questions JAMB 1611 WAEC 1757 CUSTOM 2
Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Custom CBT

Create and set up a CBT environment with your preferred subjects.

JAMB CBT Simulator

Practice JAMB CBT with real UTME past questions in CBT format.

WAEC CBT Practice 2026 Simulator

CB-WASSCE styled past question practice.

NECO CBT Practice 2026 Simulator

SSCE & GCE styled past question practice.

Past Questions

98 questions
All JAMB WAEC CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Question 1 of 20 98 total questions
Question 31
jamb 2005
Use the information below to answer question

Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The profit for the year is N10000. Jide receives a salary of N2000.

Calculate the profit available for appreciation?
AN12 000
BN10 000
CN8 000
DN7 000
View Explanation & Discuss
Question 32
jamb 2005
Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including?
Apartners' salaries
Binterest on capital
Cpartners' drawings
Dinterest on loans
View Explanation & Discuss
Question 33
jamb 2005
In reconciling the branch and head office accounts, remittance in transit in the branch books is treated as a?
Adebit entry
Bcredit entry
Ccontra entry
Dreversal entry
View Explanation & Discuss
Question 34
jamb 2005
The head office of Emeka Stores maintains the financial accounts of all its branches. The branch store account in the head office serves as the branch?
Adebtors' account
Btrading account
Cexpenses account
Dcash account
View Explanation & Discuss
Question 35
jamb 2005
The movement of goods from head office to a branch is treated in the in the head office accounts as?
Asales
Bissue
Cpurchase
Drequisition
View Explanation & Discuss
Question 36
jamb 2005
A company incurred N21 000 in running its four departments, namely J,K,L and M with a corresponding number of employees as 1500, 2000, 3000 and 500 respectively. What is the share of department K?
AN9000
BN6000
CN4500
DN1500
View Explanation & Discuss
Question 37
jamb 2005
Departmental accounts are prepared to aid the comparison of the?
Aprevious year's transactions
Bdaily profits
Cworkers' performances
Dmanagement performances
View Explanation & Discuss
Question 38
jamb 2005
Gamji Memorial Club carried out an activity which yield a profit of N10 000. This amount is to be transferred to the?
Adebit side of its profit and loss account
Bcredit side of its profit and loss account
Cdebit side of its income and expenditure account
Dcredit side of its income and expenditure account
View Explanation & Discuss
Question 39
jamb 2005
The not-for-profit-making organizations generate their income mainly from?
Abar sales
Bsubcriptions
Crents
Dpools
View Explanation & Discuss
Question 40
jamb 2005
Use the information below to answer questions

Purchase:..Raw materials.................N15 000
Finished goods...........................N11 400
Stock:....(1/7/01)Raw materials..........N2 250
Work-in-progress.........................N1 875
Wages:.....Direct........................N17 100
Indirect.................................N5 400
Stock:.....(30/06/02)Raw materials.......N3 000
Work-in-progress.........................N3 375

Determine the accumulated fund value?
AN9360
BN6320
CN4200
DN3000
View Explanation & Discuss
Question 41
jamb 2005
Use the information below to answer questions .

subscription.....................N5420
Canopy rent......................N400
Wages............................N1100
Post-ages........................N300
loss from bar....................N160
Purchases of new furniture.......N120
Premises.........................N4000
Furniture at the beginning.......N1120

What is the cash balance in the receipts and payments account?
AN2 520
BN2600
CN3000
DN120
ENo option
View Explanation & Discuss
Question 42
jamb 2005
Use the information below to answer questions

Purchase:..Raw materials.................N15 000
Finished goods...........................N11 400
Stock:....(1/7/01)Raw materials..........N2 250
Work-in-progress.........................N1 875
Wages:.....Direct........................N17 100
Indirect.................................N5 400
Stock:.....(30/06/02)Raw materials.......N3 000
Work-in-progress.........................N3 375

What is the cost of manufactured goods?
AN49 125
BN48 750
CN37 625
DN35 250
View Explanation & Discuss
Question 43
jamb 2005
Use the information below to answer questions

Purchase:..Raw materials.................N15 000
Finished goods...........................N11 400
Stock:....(1/7/01)Raw materials..........N2 250
Work-in-progress.........................N1 875
Wages:.....Direct........................N17 100
Indirect.................................N5 400
Stock:.....(30/06/02)Raw materials.......N3 000
Work-in-progress.........................N3 375

The cost of raw materials consumed is?
AN17 250
BN15 750
CN15 000
DN14 250
View Explanation & Discuss
Question 44
jamb 2005
Use the information below to answer questions

Direct labour...................N50 000
Beginning work-in-progress......N4 000
Raw materials used..............N18 000
Indirect labour.................N4 000
Ending finished goods...........N16 000
Ending work-in-progress.........N9 000
Factory supplies used...........N7 000
Selling expenses................N25 000
Beginning finished goods........N21 000
Other factory overheads.........N19 000

Calculate the prime cost?
AN50 000
BN68 000
CN70 000
DN75 000
View Explanation & Discuss
Question 45
jamb 2005
Use the information below to answer questions

Direct labour...................N50 000
Beginning work-in-progress......N4 000
Raw materials used..............N18 000
Indirect labour.................N4 000
Ending finished goods...........N16 000
Ending work-in-progress.........N9 000
Factory supplies used...........N7 000
Selling expenses................N25 000
Beginning finished goods........N21 000
Other factory overheads.........N19 000

What is the cost of goods manufactured?
AN117 000
BN104 000
CN97 000
DN93 000
View Explanation & Discuss
Question 46
jamb 2005
A component of an overhead manufacturing cost is?
Acost of work-in-progress
Bcost of finished goods
Clabour
Drent
View Explanation & Discuss
Question 47
jamb 2005
Use the information below to answer questions 25 and26.

Zazzau Company:

Cash in hand................N50
Cash in bank................N1 250
Stock.......................N4 880
Furniture...................N9 60
Building....................N5 500
Debtor......................N1 750
Creditors...................N2 150

Drawings of N125 were made by the shareholders of the company.

They company's net current assets amount to?
AN5 780
BN5 70
CN6 580
DN7 930
View Explanation & Discuss
Question 48
jamb 2005

Use the information below to answer questions

Zazzau Company:

Cash in hand................N50
Cash in bank................N1 250
Stock.......................N4 880
Furniture...................N9 60
Building....................N5 500
Debtor......................N1 750
Creditors...................N2 150

Drawings of N125 were made by the shareholders of the company.

The capital of the company stands at?

AN12 240
BN12 115
CN2 510
DN2 150
View Explanation & Discuss
Question 49
jamb 2005
If the assets and liabilities of a firm were valued at N17,200 and N5,120 respectively, the capital of the firm would be?
AN22 320
BN17 200
CN12 080
D5 120
View Explanation & Discuss
Question 50
jamb 2005
Which of the following item is found on the credit side of the sales ledger control account?
ADiscount received
BDishonoured cheques
CCredit sals
DBills receivable
View Explanation & Discuss
Question Navigator
Current
MathsFaculty