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.

131 questions JAMB 1611 WAEC 1757 CUSTOM 2

Select subject

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

131 questions

Question 1 of 20 131 total questions

Question 51

jamb 2023

When starting with the cash book balance in preparing the bank reconciliation statement, the followings are added except

Auncredited cheque

Bcredit transfer

Cdividend

Dunpresented cheque

View Explanation & Discuss

Question 52

jamb 2023

A double entry for a transaction that offsets one amount against another on both sides of the cashbook is a

Aoriginal entry

Bcontract entry

Cprime entry

Dcontra entry

View Explanation & Discuss

Question 53

jamb 2023

The main purpose of transaction file is?

Ato record assets and liabilities

Bto update income and expenses

Cto make organization decision

Dto update master files

View Explanation & Discuss

Question 54

jamb 2023

The account where the profit are distributed to the partner in their profit sharing ratio in partnership

Aappropriation account

Bprofit and loss account

Cbalance sheet

Dtrading account

View Explanation & Discuss

Question 55

jamb 2023

An evidence of payment issued to a government ministry by a revenue collector is

Atreasury card

Bpayment voucher

Ctreasury receipt

Dreceipt voucher

View Explanation & Discuss

Question 56

jamb 2023

Which of these is not method of stock valuation?

AFIFO method

BBase method

CStandard method

DLIFO method

View Explanation & Discuss

Question 57

jamb 2023

	₦
Plant and Machinery	190000
Motor Vehicle	170000
Stock	60000
Current Liabilities	50000
Purchase consideration	40000

The goodwill is?

A₦110,000

B₦30,000

C₦90,000

D₦80,000

View Explanation & Discuss

Question 58

jamb 2023

One of the options below have the same features as the profit and loss account in non-profit organization

Anon profit account

Bprofit and loss account

Cincome and expenditure account

Dreceipts and payment account

View Explanation & Discuss

Question 59

jamb 2023

Capital for a profit making organization is generated through

Agift

Bdonation

Cshares

Dsubscription

View Explanation & Discuss

Question 60

jamb 2023

Salaries in arrears is treated in the balance sheet as a

Acurrent asset

Bcurrent liability

Clong term liability

Dfixed asset

View Explanation & Discuss

Question 61

jamb 2023

Which of these is not a subsidiary books?

Asales day book

Bpurchase day book

Ccredit note

Dreturn inward day book

View Explanation & Discuss

Question 62

jamb 2023

The effect of transaction when cash is paid into the bank is?

Abank balance decrease and cash balance increase

Bcash balance decrease and bank balance increase

Cbank balance decrease and cash balance decrease

Dcash balance increase and bank balance increase

View Explanation & Discuss

Question 63

jamb 2023

Which of the following is used to service all operations of government?

Ageneral reserve fund

Bconsolidated revenue fund

Cspecial operational fund

Dconsolidated reserve fund

View Explanation & Discuss

Question 64

jamb 2023

Given:

I. It records subscription in arrears
II. Payments of liabilities is effected
III. The account does not show if cash payment is revenue or capital expenditure
IV. It performs the same function as cash book

The features of receipts and payment account includes:

AIII and IV

BI, II and IV

CII, III and IV

DI, II and III

View Explanation & Discuss

Question 65

jamb 2023

Given:
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases

The item on the credit side of purchase ledger control account includes

AI, II and IV only

BI and IV only

CI and II only

DI, II and III only

View Explanation & Discuss

Question 66

jamb 2023

Changes in the profit sharing ratio may occur as a result of

I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase

AI, III and IV

BI and III

CI, II and III

DI, II and IV

View Explanation & Discuss

Question 67

jamb 2023

When goods are received from head office, head office will be credited while

Asales will be debited

Brequisition will be debited

Cissue will be debited

Dpurchases will be debited

View Explanation & Discuss

Question 68

jamb 2023

	₦
Balance as per cash book	5467
Uncredited cheques	4410
Unpresented cheques	19404

The balance as per bank statement is

A₦20,461

B₦21,091

C₦21,109

D₦19,021

View Explanation & Discuss

Question 69

jamb 2023

Subscription in advance is treated in the balance sheet as a

Afixed asset

Blong term liability

Ccurrent asset

Dcurrent liability

View Explanation & Discuss

Question 70

jamb 2023

	#
Stock Jan 1	2600
Purchases	4000
Carriage inwards	500
Sales	9000
Carriage outwards	500

Determine the net profit

A#4,000

B#4,500

C#5,000

D#1,400

View Explanation & Discuss

Question Navigator

Current

Accounting Past Questions

Take a test

Custom CBT

JAMB CBT Simulator

WAEC CBT Practice 2026 Simulator

NECO CBT Practice 2026 Simulator

Past Questions

Question Navigator

MathsFaculty