Accounting Past Questions

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3,370 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

3,370 questions
Question 1 of 20 3,370 total questions
Question 661
waec 2012

Which of the following is not a revenue to a local government?

Afines
Blicenses
Cpersonal ncome tax
Dtenement rates
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Question 662
waec 2012

Administrative, selling and distribution expenses in a manufacturing firm are recorded in

Atrasing acccount
Bmanufacturing account
Cprofit and loss account
Dbalance sheet
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Question 663
waec 2012

An underwriter for a company's share is paid

Ainterest
Bcommision
Cdividend
Dsalary
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Question 664
waec 2012

Which of the following is a form of memorandum of association

Anames of directors
Bappointment of directors
Cobject of the business
Dpayment of dividend
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Question 665
waec 2012

The double entry to record the proceeds on disposal of assets in debit

Abank account; credit asset disposal account
Basset disposal account; credit bank account
Cprovision for depreciation account; credit asset disposal account
Dasset disposal account; credit provision for depreciation account
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Question 666
waec 2012

Which of the following is not part of the central processing unit of a computer?

Aarithmetical and lgical unit
Bmemory unit
Cinput unit
Dcontrol unit
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Question 667
waec 2012

Which of the following is not the purpose of a control account?

Acheck on errors of addition
Blocate errors
Clocate missing figures
Dmonitor the cash book
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Question 668
waec 2012

The excess of value of assets over the purchase consideration on acquisition of a business is credited to

Ashare capital account
Bgoodwill account
Ccapital reserved account
Dgeneral reverse account
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Question 669
waec 2012
Which of the following errors affects the agreement of a Trial balance?
Awrong addition in the sales account
Bcrediting a purchase to the sales account
Cfailure to enter sales in the books
Dposting the purchase of a van to the debit side of the purhases account
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Question 670
waec 2012

Share of ₦3 nominal value were issued at a price ₦4. The difference of ₦1 is a

Acommision
Bdiscount
Cpremium
Dbonus
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Question 671
waec 2012

An increases in the provision for doubtful debts results is a\an

Aincrease in the gross profit
Bdecrease in the gross profit
Cdecrease in the net profit
Dincrease in the net profit
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Question 672
waec 2012

The sales ledger control account is also referred to as

Abought ledger control account
Bpurchases account
Ctotal debtors account
Dtotal creditor account
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Question 673
waec 2012

Which of the following is not found in the personal ledger?

Adebtors account
Bcreditors account
Ccapital account
Dnominal account
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Question 674
waec 2012

If creditors at 1\1\10 were Le 3,000; creditors at 31/12/10 Le 5,500 and payments to creditors Le 29,000. The purchases figure for 2010 is

ALe 34,500
BLe 32,000
CLe 31,500
DLe 26,500
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Question 675
waec 2012

Partners whose liabilities are restricted to their financial contribution to the partnership in the event of winding up are

Aordinary partners
Blimited partners
Cdormant partners
Dsleeping partners
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Question 676
waec 2012

The portion of authorized capital that has been allotted to subscribers

Acalled up capital
Bpaid up capital
Cissued capital
Dnominal capital
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Question 677
waec 2012

The term used to denote the capital of a not-for-profit making organization is

Aannuity fund
Bnominal capital
Ccirculating capital
Daccumulated fund
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Question 678
waec 2012

The equivalent of income and expenditure account in a trading concern is

Atrading account
Bprofit and loss account
Cappropriation account
Dbalance sheet
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Question 679
waec 2012

Which of the following is not an input device?

Acard reader
Bpaper top reader
Calpha-numeric keyboard
Dline partnership
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Question 680
waec 2012

Rent accrued in 2009 was D140, in 2010, D900 was paid while D160 was outstanding. Rent for 2010 was

AD1,200
BD1,060
CD920
DD880
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