OAU Post UTME Accounts Past Questions

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Which choice is not a separately named capital or redemption reserve, but means ordinary trading profits kept in a business after dividends?

Determine the amount chargeable to profit and loss account for electricity from the data below: Opening balance ₦40,000 Paid during the year ₦240,000 Closing balance ₦100,000

The petty cash book kept on imprest system should have

Subscription received in respect of a future period is

Prime cost is

Which of the following is not a form of business asset?

Which accounting concept states that revenues and expenses are recognized as they are earned or incurred and not when money is received?

A credit balance of ₦350,000 in a cash account shows that

Where a correct amount is entered, but in the wrong person’s account, is an error of

Which of the following does not appear in a bank statement?

A cheque which has been sent but has yet gone through the bank account of the receiver of it is known as:

Final accounts of a company refers to:

Which of the following is not a current asset?

Accounting equation is given by

Errors revealed by the trial balance include error of:

The test of arithmetical accuracy of all postings in the ledger is provided in the:

Which of the following is not a book of original entry?

The diary of events in which all financial transactions are recorded for easy reference and to assist in the double entry system is

What is the general name for the primary documents used to record business transactions when they take place?

An expenditure whose benefit is finished or enjoyed immediately is called:

1 2 3 4

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