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Tuesday, 16 June 2026
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Accounts - Principles of Accounts Past Questions and Answers

Post Utme Accounts - Principles of Accounts Questions

Question 86:
A pension granted to any past presidentor vice-president shall be charged to the____
  • A Consolidated revenue fund
  • B Special pension fund
  • C Contingency fund
  • D Development fund
View Answer & Explanation
Question 87:
Public sector accounting is practiced in____.
  • A Public limited companies
  • B Government organizations
  • C Profit making organizations
  • D Public trading companies
View Answer & Explanation
Question 88:
The basis of accounting which eliminatesdebtors and creditors is ____
  • A Cash basis
  • B Accrual basis
  • C Fund basis
  • D Commitment basis
View Answer & Explanation
Question 89:
Which of the following is a source ofrevenue to a local government authority?
  • A Poll tax
  • B Excise duty
  • C PAYE tax
  • D Value added tax
View Answer & Explanation
Question 90:
Adama's bank account showed anoverdraft of ₦600 on 31st March. On goingthrough the account, it was discovered thatthe ₦1,080 paid into the account on 29thmarch had not been credited. What should bethe balance in Adama’ s cash accounts.
  • A ₦1,680 Dr.
  • B ₦1,080 Cr.
  • C ₦600 Dr.
  • D ₦480 Cr.
View Answer & Explanation