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.

93 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

93 questions
Question 1 of 13 93 total questions
Question 41
jamb 2010

Benefit enjoyed for which payments have not been made are?

Aaccruals
Bprepayments
Cacquisitions
Dprovisions
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Question 42
jamb 2010

Use the information below to answer question 

Sales....................................N10,900
Stock 1/1................................N1, 000
Stock 31/12..............................N2, 000
Purchases................................N4, 000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200

The cost of goods available for sale is?

AN4 600
BN5 000
CN6 400
DN4 400
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Question 43
jamb 2010

Use the information below to answer question 

Sales....................................N10,900
Stock 1/1................................N1, 000
Stock 31/12..............................N2, 000
Purchases................................N4, 000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200

Find the gross profit.

AN7 800
BN7 900
CN9700
D5700
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Question 44
jamb 2010

The course of discrepancies between the bank statement and the cash book that overstates the cash book is the?

Adividend received
Buncredited expenses
Cuncredited cheques
Dinterest on lodgement
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Question 45
jamb 2010

The bank charges levied on a current account holder is the charge on?

Atransaction
Bturnover
Ctransfer
Dcash received
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Question 46
jamb 2010

A major cause of discrepancy between bank statement and the cash book that overstates the bank statement balance is the?

Acommission paid
Binterest received
Cdirect payment
Ddirect withdrawal
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Question 47
jamb 2010

The source documents include?

Acash book
Bpetty cash book
Cgeneral ledger
Dcredit notes
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Question 48
jamb 2010

Th major feature of an invoice is that, it?

Apasses information through the sales day book
Bhas cash and bank column
Cspecifies the particular of goods bought
Dindicates only the cash sales
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Question 49
jamb 2010

The account which refers to the tangible assets of a company that is of permanent nature is the?

Apersonal account
Breal account
Cnominal account
Dcash account
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Question 50
jamb 2010

If stationery bought for N200 has been entered as N2000. To correct this error?

Adebit stationery with N2,200
Bcredit stationery with N1,800
Cdebit stationery with N1,800
Dcredit stationery with N2,200
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Question 51
jamb 2010

If salary account is debited instead of stationary account, the error committed is that of?

Acommission
Bomission
Cprinciple
Dcompensation
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Question 52
jamb 2010

Ledger account is mainly classified into?

Anominal, real and personal accounts
Bfixed and current accounts
Cmanagement, financial and public sector accounting
Dbank and cash accounts
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Question 53
jamb 2010
The major function of accounting bodies in Nigeria is to?
Aprovide proper financial management of businesses
Bprovide good remuneration to the members
Cpromote the ethics of the profession
Dshow the dynamic nature of the profession
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