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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.

103 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

103 questions
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Question 1 of 3 103 total questions
Question 51
jamb 2003
Use the information below to answer question .
Capital ...................N2000
Bank ......................N1200
Purchase ..................N2500
Sales .....................N6700
Stock .....................N1300
Creditors .................N1000
Fixed assets...............N3700
Drawings ..................N?
Drawings are always estimated at 50% of capital.
The trial balance total is?
AN9700
BN8700
CN7900
DN7800
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Question 52
jamb 2003
The two legally recognized professional accounting bodies in Nigeria are the?
AInstitute of Certified Public Accountants of Nigeria and the Institute of cost and Management Accountants of Nigeria
BAssociation of Accountants of Nigeria and the Institute of Management Accountants of Nigeria
CInstitute of Chartered Accountants of Nigeria and the Association of National Accountants of Nigeria
DNigeria Accounting Association and the Excutive Cost and Management Accounts of Nigeria
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Question 53
jamb 2003
Which of the following is used to update the cash book in bank reconciliation?
AInterest received and unpresented cheques
BCommission and debit note
CUnpresented cheques and direct credit
DInterest received and direct credit
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