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Accounts Past Questions | JAMB, WAEC, NECO and Post UTME Past Questions

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Question 3121

Public sector accounting is practiced in ______.


A) public limited companies

B) government organizations

C) profit making organizations

D) public trading companies

Question 3122

The basis of accounting which eliminates debtors and creditors is ______.


A) cash basis

B) accrual basis

C) fund basis

D) commitment basis

Question 3123

Which of the following is a source of revenue to a local government authority?


A) Poll tax

B) Excise duty

C) PAYE tax

D) Value added tax

Question 3124

Adama's bank account showed an overdraft of ₦600 on 31st March. On going through the account, it was discovered that the ₦1080 paid into the account on 29th march had not been credited. What should be the balance in Adama's cash accounts?


A) ₦1,680 Dr.

B) ₦1,080 Cr.

C) ₦600 Dr.

D) ₦480 Cr.

Question 3125

Interest on a partner's drawings is debited to the


A) partner's current account and credited to the profit and loss appropriate account

B) profit and loss appropriation account and credited to the partner's current account

C) profit and loss account and credited to the partner's account

D) partner's current account and credited to the profit and loss account

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