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.

100 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

100 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 20 100 total questions
Question 41
jamb 2008
The main purpose of control account is to?
Adetect errors and irregularities
Bassist purchases
Cassist sales
Dcheck management incompetence
View Explanation & Discuss
Question 42
jamb 2008
In a period of inflation, which of the following method normally gives a closing closing stock?
AFIFO
BLIFO
CSinple average
Dperiodic simple average
View Explanation & Discuss
Question 43
jamb 2008
Use the information below to answer questions .

Aug. 1 Received 20 units at N60 each
Aug. 6 Received 20 units at N68 each
Aug. 10 Issued 16 units
Aug. 20 Received 40 units at N80 each
Aug. 31 Issued 48 units

Using the FIFO method, what is the value of the closing stock?
AN1280
BN1184
CN1024
DN960
View Explanation & Discuss
Question 44
jamb 2008
Use the information below to answer questions .

Aug. 1 Received 20 units at N60 each
Aug. 6 Received 20 units at N68 each
Aug. 10 Issued 16 units
Aug. 20 Received 40 units at N80 each
Aug. 31 Issued 48 units

Using the simple average method, what is the cost per unit of the closing stock?
AN80
BN74
CN64
DN60
View Explanation & Discuss
Question 45
jamb 2008
The factor that determine the periodic depreciation charge are?
Aasset cost, market value and useful life
Basset cost, market value and residusl value
Casset value, cash value useful life
Dasset cost, salvage and useful life
View Explanation & Discuss
Question 46
jamb 2008
\(\begin{array}{c|c}
\text{Capital} & 12,700 & \text{Purchases} & 7,100 \\
\hline
\text{Debtors} & 4,000 & \text{Stationery} & 1,900 \\
\hline
\text{Sales} & 2,400 & \text{Wages} & 1,230 \\
\end{array}\)

Determine the closing balance of the cash book?
AN655 credit
BN655 debit
CN130 credit
DN130 debit
View Explanation & Discuss
Question 47
jamb 2008
Use the information below to answer question .

Capital.......N12 700........Purchases......N7 100
Debtors.......N4 000........Stationery.....N1 900
Sales.........N2 400........Wages..........N1 230

The owners wishes to maintain an account equal to of capital as drawings.

What is the amount withdrawn?
AN9525
BN9000
CN7100
DN6400
View Explanation & Discuss
Question 48
jamb 2008
The medium that enables the ATM to read the account details and process transaction directly with the account held in the bank is the?
Asmart card
Bcommunication network
Cmagnetic strip
Dcomputerized account
View Explanation & Discuss
Question 49
jamb 2008
Commission-on-turnover is charged on?
Acurrent accounts only
Bsavings accounts only
Cfixed deposit accounts only
Dall bank accounts
View Explanation & Discuss
Question 50
jamb 2008
Abba offers 5% cash discount on goods worth N10 000, The discount allowed account is to be?
Adebited with N10 000
Bcredited with N10 000
Cdebited with N500
Dcredited with N500
View Explanation & Discuss
Question 51
jamb 2008
An entry made in bank column of cash book to record movement of cash between the office and the bank is the?
Areal entry
Bspecial entry
Cdirect entry
Dcontra entry
View Explanation & Discuss
Question 52
jamb 2008
Given:

................Cash Book........................

Capital..........N6 500........purchases.....N12 250
Sales............N30 000........Rent..........N9 100
................................Motor vehicle.N2 400

Find the bank balance?
AN71 250 credit
BN71 250 debit
CN95 000 credit
DN95 000 debit
View Explanation & Discuss
Question 53
jamb 2008
Use the information below to answer questions .

(i) Cash at bank (ii) Cash in hand (iii) Premises
(iv) Land (v)Creditors (vi)loan from friends/bank.
What are the current assets?
Ai and ii
Bi and v
Cii and iv
Diii and v
View Explanation & Discuss
Question 54
jamb 2008
Use the information below to answer questions .

(i) Cash at bank (ii) Cash in hand (iii) Premises
(iv) Land (v)Creditors (vi)loan from friends/bank.

Determine the fixed assets?
Ai and v
Bii and iv
Cii and vi
Diii and iv
View Explanation & Discuss
Question 55
jamb 2008
Bariga, a stock broker bought stationery for N 12000 by cash. To record this transaction, debit?
Acash and credit stationery
Bpurchase and credit stationery
Cstationery and credit cash
Dstationery and credit purchases
View Explanation & Discuss
Question 56
jamb 2008
Given:

Sales.....................N4000
Light expenses............N2900
Rent......................N1500
Purchases.................N7500
Debtors...................N6000
Creditors.................N29000
Drawings..................N25
Bank......................N400
General expenses..........N1500

Calculate the total of trial balance?
AN64 300
BN46 825
CN41 850
DN33 325
View Explanation & Discuss
Question 57
jamb 2008
One basic assumption of the double entry theory is that it allows?
Atwo credit entries at the same time
Btwo debit entries at the same time
Cdebit and credit two credit entries at the same time
Ddebit and credit two credit entries in corresponding account
View Explanation & Discuss
Question 58
jamb 2008
A financial analyst needs accounting information to?
Amaintain the production section of the business
Bknow why transactions cause increase and decreases in assets
Cadvise on how to manage the business
Dknow how to record transaction in T account
View Explanation & Discuss
Question 59
jamb 2008
Which of the following accounting conventions suggests that accountants should use a method of valuation that understates rather than over-states results?
AConservatism
BHistorical
CMonetary
DCost
View Explanation & Discuss
Question 60
jamb 2008
One of the major features of bookkeeping is that it?
Aprovides permanent records for all financial transactions
Bis futuristic in nature
Caccpets responsibility for all wrong postings
Ddoes not give room for double entry procedures
View Explanation & Discuss
Question Navigator
Current
MathsFaculty