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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.

88 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

88 questions
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Question 1 of 8 88 total questions
Question 41
jamb 2021

Given:
                                                                  ₦
Total debtors b/d 31/12/99                    25,000
Cheques received from debtors         255,000
Total debtors c/d 31/12/00                    15,000

Calculate the sales figure

A₦245,000
B₦215,000
C₦295,000
D₦265,000
View Explanation & Discuss
Question 42
jamb 2021

In a departmental accounting system, which of the following expenses will most likely be apportioned on the basis of turnover

Acarriage inwards
Bcarriage outwards
Cdiscount received
Dreturns outwards
View Explanation & Discuss
Question 43
jamb 2021

The excess of income over expenditure is usually transferred to the

Acurrent assets in the balance sheet
Bprofit and loss account
Caccumulated fund
Dcurrent liabilities in the balance sheet
View Explanation & Discuss
Question 44
jamb 2021

Given:


Depreciation of plant and machinery
Factory rent
Indirect wages
General indirect expenses
Lubricants
Carriage inwards
Factory power
Bank charges
Carriage outwards
 		    ₦
1,600                                         
   650
   695
   726
1,235
   829
   350
   612
2,900
 

Determine the total factory overhead cost

A₦4,485
B₦6,085
C₦6,556
D₦5,256
View Explanation & Discuss
Question 45
jamb 2021

Capital and revenue expenditures of government are usually accounted for under funds which include

Atechnical, special trust and commercial funds
Bpersonal advances, technical and public funds
Cpersonal advances, treasury clearance and special trust funds
Dcommercial loans and treasury clearance funds
View Explanation & Discuss
Question 46
jamb 2021

The ordinary shareholders enjoy the following right except the right to

Areceive dividends at a predetermined rate
Bvote at annual general meetings
Celect the board of directors
Dparticipate in additional issues of shares
View Explanation & Discuss
Question 47
jamb 2021

Which of the following stock valuation method is suitable under inflationary conditions?

ALIFO
Bsimple average
CFIFO
Dweighted average
View Explanation & Discuss
Question 48
jamb 2021

Sales ledger control account contains the total amount in respect of

Ainvestors
Bcreditors
Cshareholders
Ddebtors
View Explanation & Discuss
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