Download JAMB Accounting Past Questions Free 2024

Download JAMB Accounting Past Questions Free 2024:- If you’re serious about acing JAMB Accounting in 2024, then you need more than just textbook knowledge—you need to get into the habit of practicing past questions. Accounting is a subject that requires both understanding concepts and applying them correctly under pressure. By practicing with past questions, you’ll not only familiarize yourself with the question format, but also boost your confidence in solving complex accounting problems. In this post, I’ll guide you through how to download JAMB Accounting past questions for free, and how you can use them to prepare like a pro for the exam.

Download JAMB Accounting Past Questions Free 2024

Here are 20 sample multiple-choice (OBJ) JAMB Accounting past questions for practice:

1. Which of the following is the primary purpose of financial accounting?
A) To ensure the payment of taxes
B) To provide information for decision-making by internal users
C) To provide information for external users such as investors, creditors, and regulators
D) To monitor cash flow and internal expenses

2. The trial balance is prepared to:
A) Check the accuracy of the ledger balances
B) Prepare the income statement
C) Prepare the balance sheet
D) Determine the amount of dividends

3. Which of the following is an example of a current asset?
A) Property
B) Accounts payable
C) Inventory
D) Share capital

4. The accounting equation is:
A) Assets = Liabilities + Equity
B) Assets = Liabilities – Equity
C) Assets = Revenues – Expenses
D) Assets = Liabilities + Revenues

5. Which of the following is classified as a liability?
A) Buildings
B) Cash
C) Bank overdraft
D) Inventory

6. Which of the following accounts is classified as a capital account?
A) Accounts payable
B) Owner’s equity
C) Prepaid expenses
D) Bank loan

7. Depreciation is applied to:
A) Intangible assets
B) Current liabilities
C) Tangible fixed assets
D) Current assets

8. A sales invoice issued by a business is an example of:
A) A liability
B) A revenue
C) An asset
D) A receipt

9. Which of the following is the correct formula for calculating profit margin?
A) Profit margin = Revenue / Total assets
B) Profit margin = Net profit / Sales revenue
C) Profit margin = Net income / Total liabilities
D) Profit margin = Operating expenses / Net income

10. Which of the following is a non-cash transaction?
A) Purchase of inventory on credit
B) Depreciation expense
C) Payment of wages
D) Receipt of cash from a debtor

11. Which of the following accounts is NOT included in the income statement?
A) Revenue
B) Expenses
C) Capital
D) Net profit

12. The purpose of the balance sheet is to show:
A) The financial performance of a business over a period
B) The flow of cash in and out of the business
C) The financial position of a business at a specific point in time
D) The revenue and expenses for a business

13. An example of an operating expense is:
A) Rent
B) Loan repayment
C) Share capital
D) Dividends

14. The statement of cash flows includes all of the following EXCEPT:
A) Operating activities
B) Financing activities
C) Investing activities
D) Capital expenses

15. Which of the following is an example of an accrued expense?
A) Rent paid in advance
B) Interest on a loan that has not been paid yet
C) Capital gain
D) Dividend received

16. The matching principle in accounting requires:
A) Income to be recorded when it is received
B) Expenses to be recorded when they are paid
C) Revenues and expenses to be matched in the same period
D) Capital expenditures to be matched with income

17. Which of the following is NOT a typical function of an accountant?
A) Recording financial transactions
B) Managing tax affairs
C) Auditing financial statements
D) Determining company dividends

18. Which of the following is a key feature of double-entry bookkeeping?
A) Every transaction is recorded only once
B) Every transaction affects two accounts, a debit and a credit
C) It only records cash transactions
D) It involves a single entry in the journal

19. Which of the following best describes the concept of liquidity in accounting?
A) The ability to convert assets into cash quickly without losing value
B) The ability to generate profit from assets
C) The level of equity in the business
D) The ability to increase sales

20. A company receives a bill for electricity used during the month. How would this be recorded in the books?
A) Debit electricity expense, credit cash
B) Debit electricity expense, credit accounts payable
C) Debit cash, credit electricity expense
D) Debit accounts payable, credit electricity expense

Why Past Questions are Your Secret Weapon for Accounting

Let’s be real: past questions are the best way to know exactly what to expect. Here’s why they’re a must for your preparation:

• Familiarize Yourself with the Question Style
  In JAMB Accounting, the questions range from multiple-choice to problems that require working through calculations and financial statements. By practicing past questions, you get to see how the questions are structured, so you can quickly identify them on exam day. You won’t waste time thinking about what a question is asking because you’ve seen that exact question type before.
• Pinpoint Key Topics
  Accounting covers a broad range of topics—from bookkeeping to financial reporting to accounting principles. Some areas appear more frequently than others, and past questions help you pinpoint which topics always show up in the exam. That’s gold because it lets you focus your energy on high-yield areas.
• Sharpen Your Speed and Accuracy
  JAMB’s Accounting exam doesn’t give you much time, especially when you’re solving calculations. The more you practice past questions, the faster you’ll be able to solve problems, while maintaining accuracy. You’ll start developing tricks and shortcuts that help you work more efficiently under pressure.

Where to Find Free JAMB Accounting Past Questions

If you’re looking to get your hands on reliable and free JAMB Accounting past questions, here are the best places to grab them:

• JAMB’s Official Website
  The official site is the first place you should check for authentic past questions. While the selection is limited, they offer the most reliable and up-to-date questions for your preparation.
• Pass.ng
  Pass.ng is one of the best platforms for JAMB exam preparation. They provide free past questions, including for Accounting, and give you detailed explanations to help you understand the reasoning behind each answer.
• Examplaza.ng
  A trusted platform for downloading JAMB past questions. Examplaza is regularly updated, and you’ll find the latest Accounting questions for 2024 there.
• EkoBrain
  This platform has a variety of past questions for all JAMB subjects, including Accounting. Their collection is updated regularly, so you’re always practicing the most relevant material.

How to Download JAMB Accounting Past Questions for Free

It’s straightforward to grab those past questions. Here’s the quick guide:

1. Go to a Trusted Website: Choose platforms like Pass.ng, Examplaza.ng, or EkoBrain.
2. Select the Subject (Accounting) and Year (2024): Once you’re on the website, choose 2024 as the exam year and Accounting as the subject.
3. Click the Download Button: After selecting your options, hit the download button. Some sites may ask you for your email address to send you a link to the past questions.
4. Save and Organize: Download the files and organize them in a folder for easy access. You can even organize them by topic or year so you can quickly find what you need.
5. Get to Work: Now you have the questions—start solving! Treat it like the real thing, and don’t rush through it. This is practice for the actual exam.

How to Use JAMB Accounting Past Questions Effectively

Simply downloading the past questions isn’t enough; you need to work smarter. Here’s how you can make them count:

• Practice Under Timed Conditions
  Accounting problems can take time, especially when you’re doing calculations. To get a feel for how the exam will go, time yourself while solving past questions. It’ll help you practice how to pace yourself during the real exam.
• Focus on Problem-Solving
  Accounting requires application of formulas and principles to real-life scenarios. Don’t just memorize formulas; practice applying them to different scenarios. Focus on topics like journals, trial balance, and balance sheets, as these come up often in JAMB questions.
• Analyze Your Mistakes
  When you get a question wrong (and you will), don’t just skip over it. Go back, figure out why the answer was wrong, and study that area. If it’s a concept you didn’t quite get, revisit your textbooks or other resources to solidify your understanding.
• Use Multiple Resources
  Besides solving past questions, use textbooks, study guides, and even video tutorials for visual learners. Resources like Olabode’s Accounting can be an excellent supplement to past question practice.

Other Tips to Ace JAMB Accounting in 2024

If you want to stand out in Accounting, there are a few extra things you need to do:

• Master Accounting Terminology
  Accounting has a ton of terms that you need to know. Make sure you understand debits, credits, capital, assets, liabilities, and all the other basic accounting terms. These are fundamental and are always part of JAMB questions.
• Practice Calculations
  JAMB Accounting frequently asks you to calculate values like profit and loss, depreciation, and other financial data. Spend extra time on calculations so you can solve problems quickly and accurately during the exam.
• Understand Financial Statements
  You need to be comfortable with preparing and interpreting financial statements—especially balance sheets, income statements, and cash flow statements. This is critical for doing well in JAMB Accounting.
• Create Flashcards for Key Formulas
  Accounting relies on several key formulas (like the basic accounting equation: Assets = Liabilities + Equity). Write these formulas down on flashcards and revise them regularly.

Maximizing Your Free JAMB Accounting Past Questions Download

Now that you’ve got your free past questions, here’s how to make the most of them:

• Combine Free with Paid Resources
  While free past questions are a great start, consider investing in paid resources like study guides or premium apps that break down accounting principles in detail.
• Track Your Progress
  Use tools like Google Sheets to track which past questions you’ve completed and where you need more practice. This way, you can focus on your weak areas.
• Use Study Apps
  Download apps like JAMB Exam Prep to practice Accounting on the go. Some apps also give you the option to take mock exams, which can simulate the real test environment.

Conclusion

JAMB Accounting past questions are the key to acing your 2024 exam. By downloading them for free and practicing consistently, you’ll familiarize yourself with the exam format, master key topics, and sharpen your problem-solving skills. Don’t just memorize—understand, apply, and practice. Use past questions to gauge your progress and continuously improve. With determination and the right approach, you’ll be more than ready to succeed. Best of luck in your studies!