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.

3,370 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

3,370 questions

Question 1 of 20 3,370 total questions

Question 71

jamb 2024

The following extracts are made from the books of Agama Enterprises.

Motor van (cost)	120000
Life span	4 years
rate of Depreciation	40%

Method of depreciation used is Diminishing Balance The scrap value of the asset at the end of year four is

A#15,552

B#10,368

C#10,375

D#17,280

View Explanation & Discuss

Question 72

jamb 2024

Purchase Ledger Control Account

	#		#
Cash paid to debtors	15000	Balance c/d	5000
Bills payable	3000	Purchase journal	30000
Discount receive	2500
Return outward	1500
Sales ledger	1200
Balance c/d	11800
	35000		35000

The balance of #11,800 represents the amount

Aof balance required

Bof purchases made

Creceivable from creditor

Dpayable to the creditor

View Explanation & Discuss

Question 73

jamb 2024

Purchase Ledger Control Account

	#		#
Cash paid to debtors	15000	Balance c/d	5000
Bills payable	3000	Purchase journal	30000
Discount receive	2500
Return outward	1500
Sales ledger	1200
Balance c/d	11800
	35000		35000

The amount #30,000 represents

Acash purchases

Bcash paid to supplier

Ccredit purchases

Damount due from supplier

View Explanation & Discuss

Question 74

jamb 2024

Purchase Ledger Control Account

	#		#
Cash paid to debtors	15000	Balance c/d	5000
Bills payable	3000	Purchase journal	30000
Discount receive	2500
Return outward	1500
Sales ledger	1200
Balance c/d	11800
	35000		35000

The item sales ledger #1,200 represents

Acash paid to supplier

Bamount due from suppliers

Ccash purchases

Dcredit purchase

View Explanation & Discuss

Question 75

jamb 2024

Ifedapo Local Council has the following details for 2008

	#
Fines	5000
Allocation from state government	20000
Tenement rates	10000
Licences	12000
Hospital beds	8000
Ambulance	13000
Salaries	15000
Vehicles fueling	7000

The Local Council's revenue for 2008 was

A#47,000

B#37,000

C#42,000

D#27,000

View Explanation & Discuss

Question 76

jamb 2024

Ifedapo Local Council has the following details for 2008

	#
Fines	5000
Allocation from state government	20000
Tenement rates	10000
Licences	12000
Hospital beds	8000
Ambulance	13000
Salaries	15000
Vehicles fueling	7000

The council's expenditure for the year was

A#43,000

B#35,000

C#30,000

D#22,000

View Explanation & Discuss

Question 77

jamb 2024

Ifedapo Local Council has the following details for 2008

	#
Fines	5000
Allocation from state government	20000
Tenement rates	10000
Licences	12000
Hospital beds	8000
Ambulance	13000
Salaries	15000
Vehicles fueling	7000

The council's expenditure was

A#28,000

B#21,000

C#20,000

D#13,000

View Explanation & Discuss

Question 78

jamb 2024

The value of assets on dissolution of partnership is debited to realization account and credited to ___ account

Abank

Basset

Cdissolution

Dcash

View Explanation & Discuss

Question 79

jamb 2024

Which of the following is a function of the operating system of a computer?

Acontrols the input and output peripherals

Bused to enter data

Chas magnetic surface for storage

Dused to display data

View Explanation & Discuss

Question 80

jamb 2024

The coming together of two sole trading businesses to form a partnership is

Acombination

Bacquisition

Camalgamation

Dassociation

View Explanation & Discuss

Question 81

jamb 2024

The permanent memory of a computer is the

AROM

BRAM

CALU

DCPU

View Explanation & Discuss

Question 82

jamb 2024

Which of the following is not required in preparing a statement of affairs?

Afixed assets

Bnet profit

Caccruals

Dcash in hand

View Explanation & Discuss

Question 83

jamb 2024

Where there is no partnership agreement, a partner who advances loan to the partnership is entitled to ____ Interest

A2%

B15%

C10%

D5%

View Explanation & Discuss

Question 84

jamb 2024

The opening stock at the beginning of an accounting period represents

Agoods returned from last accounting period

Bcost of goods sold

Ccost of goods purchased

Dgoods available for sale

View Explanation & Discuss

Question 85

jamb 2024

A method of stock valuation is

Aaccural

Bowing

Cadvance

DSAP

View Explanation & Discuss

Question 86

jamb 2024

Which of the following is a characteristics of a limited liability company?

Adeath of a shareholder dissolves the company

BOwned by the directors

Cseparated from the owners

Dprofits are shared equally

View Explanation & Discuss

Question 87

jamb 2024

Who among the following developed the idea of double entry book-keeping?

AFrankWood

BOmuya James

CJames Lucas

DFrancia Luca Pacioli

View Explanation & Discuss

Question 88

jamb 2024

Depriciation is?

Aan appropriation of profit

Bestimated life of an asset

Closs in the value of fixed asset

Dincrease in asset value

View Explanation & Discuss

Question 89

jamb 2024

A partner whose liability does not extend beyond the amount of capital contributed by him is known as

Ageneral partner

Bactive partner

Climited partner

Dlegal partner

View Explanation & Discuss

Question 90

jamb 2024

When discount is allowed, the accounting entry is debit discount allowed account and credit ____ account

Asuspense

Bexpense

Ccreditor

Ddebtor

View Explanation & Discuss

Question Navigator

Current

« Prev 1 … 6 7 8 9 10 … 169 Next »

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