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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.

84 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

84 questions
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Question 1 of 4 84 total questions
Question 41
jamb 1994
Accounting information is used by investors and creditors of a company to predict
Afuture cash flows of the company
Bfuture tax payments of the company
Cpotential merger candidates for the company
Dappropriate remunerations for the company's staff
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Question 42
jamb 1994
The accounting convention which states that profit must not be recognized until realized while all losses should be adequately provided for it termed
Amateriality
Bobjectivity
Cconsistency
Dconservatism
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Question 43
jamb 1994
Assigning revenues to the accounting period in which goods were sold or services rendered and expenses incurred is known as
Apassing of entries
Bconsistency convention
Cmatching concept
Dadjusting for revenue
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Question 44
jamb 1994

The term "accounting period" is used to refer to the

Atime span during which taxes are paid to the inland revenue board
Bbudget period, usually one year, relied on by the accountant
Ctime span, usually one year, covered by financial statement
Dperiod within which debtors are expected to settle accounts
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