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.

127 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

127 questions
Question 1 of 20 127 total questions
Question 51
jamb 2024

Prime cost consist of direct material and ___ cost

Aoverhead
Bdirect
Cindirect
Dfactory
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Question 52
jamb 2024

The net worth of a business is the

Abank loan
Bcapital
Casset
Ddebenture
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Question 53
jamb 2024

A list of all debit and credit balances from the ledger accounts are made in the

Acash book
Btrial balance
Cbalance sheet
Dprofit and loss account
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Question 54
jamb 2024

When shares are over-subscribed, directors may decide to scale down the number of shareholding by alloting shares at ___

Adiscount
Bpar
Cpremium
Dprorata
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Question 55
jamb 2024

Issue of prospectus is an invitation to the Public to

Aregister a company
Bliquidate a company
Credeem all outstanding shares
Dsubscribe for share
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Question 56
jamb 2024

The return on debenture holding is

Ashare bonus
Binterest
Cnet profit
Ddividend
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Question 57
jamb 2024

The document used in making lodgments into a current account is

Apaying in -slip
Bcheque book
Cpass book
Dcredit card
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Question 58
jamb 2024

Shares issued free of charge to existing shareholders based on their previous holdings is __ issue

Aaccrued
Bpremium
Cfloating
Dbonus
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Question 59
jamb 2024

Which of the following is an example of a device that can be used for input, storage, and output in a computer system?

ACentral processing unit (CPU)
BKeyboard
CUSB flash drive
DMonitor
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Question 60
jamb 2024

An example of accounts in the nominal ledger is

Adebtors
Bdrawings
Ccreditors
Dmachineries
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Question 61
jamb 2024

Suppliers accounts are found in the

Aprivate
Bpurchase
Cnominal
Dgeneral
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Question 62
jamb 2024

Rent accrued at the end of an accounting period is a

Acurrent asset
Bfixed asset
Ccurrent liability
Dcapital
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Question 63
jamb 2024

The term "set off" in control account is also called

Abrought forward
Bcontra entry
Cdirect transfer
Dbad debt
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Question 64
jamb 2024

Pending the location of an error, the difference in the Trial Balance is posted to a __

Acontrol
Bprofit and loss appropriation
Cprofit and loss
Dsuspense
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Question 65
jamb 2024

The following are causes of discrepancies between the cash book and the bank statement balances except

Aerrors
Bbank charges
Cstanding order
Dbank deposit
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Question 66
jamb 2024

In government accounting, money allocated to each head and sub-heads is referred to as      

Aallocation
Bimprest
Cvote
Dfloat
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Question 67
jamb 2024

The following accounts have debit balances except

Ashare premium
Brents and rates
Creturn inwards
Dadvertising
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Question 68
jamb 2024

A commission of #5000 to a sales manager was debited to debtors account. This is an error of

Acommission
Bprinciple
Coriginal entry
Dcompensation
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Question 69
jamb 2024

An amount paid in cash to John is Dr to John and Cr to

Abank
Bdebtors
Ccash
Dcapital
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Question 70
jamb 2024

Tolu purchased a machine for #6,000 on credit. The effect is to debit.. supplier
and credit the account of the

Amachinery
Bcreditor
Ccash
Ddebtor
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