Accounting Past Questions

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136 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

136 questions
Question 1 of 20 136 total questions
Question 31
jamb 2018

In order to make the cash book balance equal to the bank statement, it is usually to add?

Auncredited cheques
Bdirect payments by bank
Cbank charged
Dunpresented cheques
View Explanation & Discuss
Question 32
jamb 2018

Bala ltd acquired the business of bello ltd and caused the separate existence of the latter company to terminate. 

Aconversion
Bdissolution
Cmerger
Dabsorption
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Question 33
jamb 2018

when a bill is negotiated to a bank , it is said to be?

Aaccepted
Bdiscounted
Csurrendered
Dcashed
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Question 34
jamb 2018

The current growth in the volume of trading and financial dealings in nigerian is helped by?

Acredit as a factor in business
Bpayments for goods in cash
Cincreased financial activities
Dgovernment intervention
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Question 35
jamb 2018

A cash book had a opening balance of N15,200, closing balance of N18,400 and total cash received during the period of N36,000. What was the amount of cash paid out during the same period?

AN29,200
BN17,800
CN32,800
DN19,600
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Question 36
jamb 2018

what is the subscription to be charged to income and expenditure account?

AN20,000
BN30,000
CN34,000
DN36,000
View Explanation & Discuss
Question 37
jamb 2018

The N6,000 subscription received is?

Acapital
Bfixed asset
Ccurrent liability
Dcurrent asset
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Question 38
jamb 2018

A club received rent N10,000 and donation of N30,000. it paid N6,000 for entertainment and is still owing N16,000 . The balance of the receipts and payments account is?

AN14,000
BN24,000
CN8,000
DN42,000
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Question 39
jamb 2018

The main difference between the ordinary and preference shareholders is that?

Athe former have voting rights while the latter do not
Bin the case of winding up, the former are paid first before the latter
Cthe latter are not members of the company while the former are
Dthe former receives dividends while the latter do not
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Question 40
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 41
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 42
jamb 2018

what is the purchase ledger balance?

AN29,000
BN24,000
CN4,000
DN23,000
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Question 43
jamb 2018

calculate the sales ledger balance

AN13,000
BN10,000
CN 6,000
DN3,000
View Explanation & Discuss
Question 44
jamb 2018

from the data above, compute the prime cost. 

AN6,500
BN 8,500
CN6,000
DN7,500
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Question 45
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 46
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 47
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 48
jamb 2018

Determine the current liabilities.

AN8,553
BN8,263
CN7,940
DN1,228
View Explanation & Discuss
Question 49
jamb 2018

The value of the current assets will be?

AN10,361
BN10,651
CN17,396
DN17,848
View Explanation & Discuss
Question 50
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
View Explanation & Discuss
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