OAU Post UTME Accounts Past Questions

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Where no partnership agreements exist, a partner who puts a sum of money into a firm in excess of the capital he has agreed to subscribe is entitled to _______ interest rate per annum on such money

Use the following information to answer the question below: ₦100,000 ordinary shares of ₦1 each100,00050,000 5% preference shares of ₦1 each50,000Profit and loss80,0008% debentures100,000Creditors30,000Bank overdraft20,0…

Use the following information to answer the question below: ₦100,000 ordinary shares of ₦1 each100,00050,000 5% preference shares of ₦1 each50,000Profit and loss80,0008% debentures100,000Creditors30,000Bank overdraft20,0…

Use the following information to answer the question below: ₦100,000 ordinary shares of ₦1 each100,00050,000 5% preference shares of ₦1 each50,000Profit and loss80,0008% debentures100,000Creditors30,000Bank overdraft20,0…

Use the following information to answer the question below: ₦100,000 ordinary shares of ₦1 each100,00050,000 5% preference shares of ₦1 each50,000Profit and loss80,0008% debentures100,000Creditors30,000Bank overdraft20,0…

Use the following information to answer the question below: ₦100,000 ordinary shares of ₦1 each100,00050,000 5% preference shares of ₦1 each50,000Profit and loss80,0008% debentures100,000Creditors30,000Bank overdraft20,0…

Which of these methods of depreciation is not recommended by SAS No. 9?

________ is calculated in the manufacturing account

The issued capital of a company is

If cost price is 9000 and selling price is 12000, then i. Markup is 25%ii. Margin is 33\(\frac{1}{3}\)% iii. Margin is 25%iv. Mark up is 33\(\frac{1}{3}\)%

Which of these errors would be disclosed by the trial balance

A cheque paid by you, but not yet passed through the banking system is

Ratios can be grouped into certain categories each of which reflects a particular aspect of the financial performance or position of an entity. Those ratios which measure the extent to which assets can be quickly turned…

Which branch of accounting is most concerned with the collection of detailed financial data for use in planning and controlling an entity?

Under the perpetual inventory system, which updates the stock account whenever goods move, how should an owner record goods taken for personal use?

Which of the following are personal accounts? i. Land and buildings ii. Salaries and wages iii. Debtors iv. Creditors

In times of rising prices, what effects do the uses of the historical cost concept have on a company's asset values and profit?

Which statement best describes consistency of presentation in financial statements?

Which of the following is an example of a liability?

The net assets of a firm can be calculated as

3 4 5 6 7

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