Log In SignUp
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
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
All JAMB WAEC CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Question 1 of 20 3,370 total questions
Question 841
jamb 2009

Use the information below to answer questions

Total current assets..................N2,000
Total fixed assets....................N4,000
Current liabilities...................N1,200
Drawings..............................N200
Long-term loan........................N2,000

What is the net working capital?

AN2,600
BN1,800
CN800
DN600
View Explanation & Discuss
Question 842
jamb 2009

Use the information below to answer questions

Total current assets..................N2,000
Total fixed assets....................N4,000
Current liabilities...................N1,200
Drawings..............................N200
Long-term loan........................N2,000

Determine the capital of the business?

AN9,400
BN6,000
CN3,400
DN3,000
View Explanation & Discuss
Question 843
jamb 2009

Given:

Balance as per cash book...................N20,000
Unpresented cheques........................N5, 200
Direct credit to the bank..................N1, 000
Direct debit from the bank.................N1, 000
Credit in the cash book....................N500

Calculate the balance as per bank statement at the end of the year?

AN24,700
BN25,200
CN26,200
DN27,700
View Explanation & Discuss
Question 844
jamb 2009
Which of the should not be added or subtracted from the bank statement balance to determine the adjust cash balance?
AError by the bank
BUndercasting of the cash book
COvercasting of the cash book
DBank service charges
View Explanation & Discuss
Question 845
jamb 2009

The standing order is a payment instruction given by a?

Acustomer to the bank
Bbank to the customer
Cbank to an employee
Dcustomer to a fellow customer
View Explanation & Discuss
Question 846
jamb 2009

Cash discount is often recorded on?

Athe debit side of the cash book
Bthe credit side of the cash book
Cthe folio column of the cash book
Dboth credit and debit side of the cash book
View Explanation & Discuss
Question 847
jamb 2009

What is the balance of cash with the petty cashier at the end of period 1?

A220
B780
C980
D1780
View Explanation & Discuss
Question 848
jamb 2009

Use the information above to answer question

Period 1:
........Cash to petty cashier.............N1000
........Petty cashier pays out............N780

Period 2:
........Petty cashier pays out............N840

If the float is increased to N1200, how much should the petty cashier receive after period 2?

A160
B840
C1000
D1040
View Explanation & Discuss
Question 849
jamb 2009

Use the information to answer below to answer questions 

i Operating machines
ii Furniture
iii Fixtures and fitting
iv Loan from friends
V Creditors

Find the fixed assets?

Ai, ii and v
Bi, ii and iv
Ci, ii and iii
Diii, iv and v
View Explanation & Discuss
Question 850
jamb 2009

Use the information to answer below to answer questions 

i Operating machines
ii Furniture
iii Fixtures and fitting
iv Loan from friends
V Creditors

What are the current liabilities?

Ai and ii
Biv and v
Ciii and v
Dii and iv
View Explanation & Discuss
Question 851
jamb 2009

If Odukoya takes money out of business bank account for his own private use, the effect of the transaction is?

Aincrease in assets and increase in capital
Bincrease in liabilities and decrease in capital
Cdecrease in capital and increase in assets
Ddecrease in capital and decrease in assets
View Explanation & Discuss
Question 852
jamb 2009
Given:

Capital...............................N2375 000
Debtors...............................N495 000
Motor vehicle.........................N870 000
Creditors.............................N245 000
Prepayment............................N500 000
Bills receivable......................N505 000
Furniture.............................N150 000

What is the total debit for the trial balance?
AN4 690 000
BN2 620 000
CN2 520 000
DN1 565 000
View Explanation & Discuss
Question 853
jamb 2009
Musa, a prepaid customer of XYZ and KLM, bought N1500 recharge card from XYZ, and N2000 recharge recharge card from KLM, for business calls. The entry to record these transaction is debit?
Atelephone N3,500 credit XYZ and KLM, N3,500
Btelephone N3,500, credit cash N3,500
Csundries N3,500, credit KLM N3,500
Dsundries N3,500, credit telephone N3,500
View Explanation & Discuss
Question 854
jamb 2009

The process of bookkeeping includes records produced from?

Aledgers
Bsource documents
Cminutes of meeting
Dintuitive reasoning
View Explanation & Discuss
Question 855
jamb 2009

The accounting convention which states that the performance of a business should be determined by matching all expenses against revenues is?

Aaccruals
Bmateriality
Cobjectivity
Dperiodicity
View Explanation & Discuss
Question 856
jamb 2009

Which of the following branches of accounting was first developed?

ACost accounting
BFinancial acounting
CManagement accounting
DPetroleum accounting
View Explanation & Discuss
Question 857
waec 2008
Use the following to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditors} & 30,000 \\ \text{Credit sales} & 100,000\\ \text{Credit purchases} & 80,000 \\ \text{Bad debts}& 5,500\\ \text{Set-offs} & 65,500\end{array}\)
Closing creditors figure is
A₦115,500
B₦110,000
C₦95,500
D₦44,500
View Explanation & Discuss
Question 858
waec 2008
Use the following to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditors} & 30,000 \\ \text{Credit sales} & 100,000\\ \text{Credit purchases} & 80,000 \\ \text{Bad debts}& 5,500\\ \text{Set-offs} & 65,500\end{array}\)
Closing debtors figure is
A₦140,000
B₦134,500
C₦80,000
D₦69,000
View Explanation & Discuss
Question 859
waec 2008
Which of the following is not an instrument for controlling public expenditure?
Aconstitution
Bfinancial regulation
Cbudget
Dmemorandum
View Explanation & Discuss
Question 860
waec 2008
Which of the following is a norminal account?
Abank account
Bcash account
Csales account
Dstock account
View Explanation & Discuss
Question Navigator
Current
MathsFaculty