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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.

105 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

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Question 1 of 5 105 total questions
Question 51
jamb 2001
Use the information below to answer question.
Given:

Fixed assets N85,600
Sales N197,000
Stock N34,300
Salaries N37,000
Purchases N127,700
Share capital N120,000
Creditors N16, 050
Motor expenses N10,500
Debtors N25,000

What is the cash balance?
AN12,095
BN12,590
CN12,905
DN12,950
View Explanation & Discuss
Question 52
jamb 2001
If liabilities amounted to N12,045, other assets N36,800and equity N26,896, the cash at hand would be?
AN2,241
BN2,214
CN2,141
DN2,114
View Explanation & Discuss
Question 53
jamb 2001
The main objective of accounting report is to provide information about?
Aa company's shareholding
Ban entity's management
Cthe efficacy of assets
Da company's economic resources
View Explanation & Discuss
Question 54
jamb 2001
Cost accounting entails the provision of information?
Afor investment purposes
Bfor descision making
Cto shareholders
Dto stockholders
View Explanation & Discuss
Question 55
jamb 2001
The current growth in the volume of trading and financial dealings in Nigeria is helped by?
Aincreased financial activities
Bgovernment intervention
Ccredit as a factor in business
Dpayment for goods in cash
View Explanation & Discuss
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