Accounting Past Questions

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49 questions JAMB 1611 WAEC 1757 CUSTOM 2
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Past Questions

49 questions
Question 1 of 20 49 total questions
Question 1
jamb 2010

Calculate the cash balance after the discount

AN2760
BN4 300
CN6 200
DN2.400
View Explanation & Discuss
Question 2
jamb 2010

If Fatima was granted a discount of 2% what will be discount allowed?

AN20
BN40
CN60
DN4
View Explanation & Discuss
Question 3
jamb 2010

When Your Silence Is Loud..& Your Eyes Speaking Volumes..

Calculate the value of credit sales

AN484 000
BN448000
CN584 000
DN558 000
View Explanation & Discuss
Question 4
jamb 2010

Credit sales is given at 160% of cash received.

What is the balance c/d?

debit 64300

 

AN333 000
BN234 000
CN343 000
DN243 000
View Explanation & Discuss
Question 5
jamb 2010

How much selling and distribution expenses is apportioned to department M?

AN 800
BN 600
CN400
DN1800
View Explanation & Discuss
Question 6
jamb 2010

How much rent is apportioned to department K?

AN1200
BN1800
CN2000
DN750
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Question 7
jamb 2010

As evidence of payments to a government ministry, the revenue collectors will issue?

Atreasury receipt
Breceipts vourcher card
Ctreasury card
Dstores receipts vourcher
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Question 8
jamb 2010

An increase in government expenditure within a year is taken care of by means of?

Afinancial regulations
Bvirement
Cwarrant
Dsupplementary estimate
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Question 9
jamb 2010

An ordinary share of N80 was issued at N96. The share was issued at?

Apremium
Bpar
Cdiscount
Dloss
View Explanation & Discuss
Question 10
jamb 2010

The financial plan of the government for a year is contained in the?

Abudget
Bcash analysis book
Cvote book
Dgazette
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Question 11
jamb 2010

Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled N800.
A provision of 2% was made for discount and 5% provision for bad and doubtful debts.

Find the amount for sundry debtors after provision?

 

AN760 000
BN744800
CN744 000
DN784 000
View Explanation & Discuss
Question 12
jamb 2010
The directors' salaries paid are items of?
Acurrent liabilities
Bprofit and loss account
Ctrading account
Dcurrent account
View Explanation & Discuss
Question 13
jamb 2010

Given:

N6 000 10% preference shares of N0.50 each
N6 000 ordinary shares of N1 each
Capital reserves N2 700 000
Long-term liabilities N4 000 000

Find the value of authorized share capital?



 

A13 000 000
B12 000 000
C9 000 000
D15 700 000
View Explanation & Discuss
Question 14
jamb 2010

The capital contribution by the partners is treated in the?

Acurrent account
Bcapital account
Ctrading account
Dbalance sheet
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Question 15
jamb 2010

The interest on partners' loans is?

Adebited in current account
Bcredited in profit and loss account
Cdebited in profit and loss account
Dcredited in current account
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Question 16
jamb 2010

The rules which govern the internal management of a firm and its financial affairs in a partnership business is a?

Amemorandum
Bbye-law
Cdeed
Dfinancial regulation
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Question 17
jamb 2010

The salary of a partner is usually debited to the?

Asundry debtors' account
Bappropriation account
Cprofit and loss account
Dsundry current account
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Question 18
jamb 2010

Which of the following is mostly used in treating partners' current earnings?

ASavings account
BCurrent account
CCapital account
DShare capital account
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Question 19
jamb 2010

Goods returned to branch by customers is recorded in the head office books be debiting?

Abank account and crediting branch stock account
Bgoods sent to branch account and crediting branch debtors''account
Cbranch stock account and crediting branch debtors account
Dbranch debtors' and credting cash acount
View Explanation & Discuss
Question 20
jamb 2010

The branch expenses paid by the head office is recorded in the books by debiting branch?

Abad debt account and crediting branch debtor's account
Bexpenses account and crediting bank account
Cprofit and loss account and crediting branch stock account
Ddiscount allowed account and crediting branch debtors' account
View Explanation & Discuss
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