POST UTME DELSU 2025 Accounting | Objective

Are you preparing for POST UTME DELSU exams? Reviewing past questions is one of the most effective ways to guarantee a high score. This practice hub features authentic 2025 Accounting (Objective) questions designed to simulate the real exam environment.

Practice these randomly selected questions to test your readiness.

Question 1
A company's trading account for the year ended 31st December 2024 is as follows: Sales: ₦1,500,000; Purchases: ₦1,200,000; Returns Outwards: ₦50,000; Returns Inwards: ₦20,000. Calculate the gross profit for the year.
A. ₦200,000
Correct B. ₦250,000
C. ₦300,000
D. ₦350,000

Correct Answer: B

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Question 2
A manufacturing company uses the process costing method. The following data is available for the month of January 2025: Opening Work-in-Progress (WIP): ₦100,000; Direct Materials: ₦500,000; Direct Labour: ₦300,000; Factory Overheads: ₦200,000. Calculate the total cost of production for the month.
Correct A. ₦1,100,000
B. ₦1,200,000
C. ₦1,300,000
D. ₦1,400,000

Correct Answer: A

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Question 3
A company's cash book for the year ended 31st December 2024 is as follows: Cash at Bank: ₦500,000; Cash in Hand: ₦200,000; Cheques Deposited: ₦300,000; Cheques Issued: ₦400,000. Reconcile the cash book with the bank statement.
A. ₦1,100,000
B. ₦1,200,000
Correct C. ₦1,300,000
D. ₦1,400,000

Correct Answer: C

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Question 4
A company's control account for the year ended 31st December 2024 is as follows: Purchases Account: ₦1,200,000; Sales Account: ₦1,500,000; Returns Outwards Account: ₦50,000; Returns Inwards Account: ₦20,000. Prepare the trading account.
A. ₦300,000
Correct B. ₦350,000
C. ₦400,000
D. ₦450,000

Correct Answer: B

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Question 5
A company's single entry system for the year ended 31st December 2024 is as follows: Cash at Bank: ₦500,000; Cash in Hand: ₦200,000; Cheques Deposited: ₦300,000; Cheques Issued: ₦400,000. Prepare the cash book.
A. ₦1,100,000
B. ₦1,200,000
Correct C. ₦1,300,000
D. ₦1,400,000

Correct Answer: C

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Question 6
A company issued 1,000, 10% debentures of ₦100 each at a discount of 5%. Calculate the amount received from debenture holders.
A. ₦95,000
Correct B. ₦99,000
C. ₦95,500
D. ₦99,500

Correct Answer: B

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Question 7
A partnership of three persons, A, B, and C, share profits and losses in the ratio 5:3:2. If the total profit for the year is ₦150,000, calculate the share of profit of partner A.
Correct A. ₦37,500
B. ₦40,000
C. ₦42,500
D. ₦45,000

Correct Answer: A

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Question 8
A company's trading account for the year ended 31st December 2024 shows a profit of ₦200,000. The company's balance sheet as at 31st December 2023 showed a capital of ₦500,000 and a profit and loss account of ₦150,000. Calculate the company's capital as at 31st December 2024.
A. ₦750,000
B. ₦800,000
Correct C. ₦850,000
D. ₦900,000

Correct Answer: C

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Question 9
A company's balance sheet as at 31st December 2023 showed a capital of ₦500,000 and a profit and loss account of ₦150,000. The company's trading account for the year ended 31st December 2024 shows a profit of ₦200,000. Calculate the company's capital as at 31st December 2024.
A. ₦650,000
B. ₦700,000
Correct C. ₦750,000
D. ₦800,000

Correct Answer: C

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Question 10
A company issued 1,000, 10% debentures of ₦100 each at a discount of 5%. Calculate the amount received from debenture holders.
A. ₦95,000
Correct B. ₦99,000
C. ₦95,500
D. ₦99,500

Correct Answer: B

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Question 11
A company issued 5,000, 10% debentures of ₦100 each at a discount of 5%. Calculate the amount received from debenture holders and the amount of discount on debentures.
Correct A. ₦475,000
B. ₦475,000
C. ₦475,000
D. ₦475,000

Correct Answer: A

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Question 12
A company's trading account for the year ended 31st December 2024 is as follows: Sales: ₦1,500,000; Purchases: ₦1,200,000; Returns outwards: ₦20,000; Returns inwards: ₦15,000. Calculate the gross profit for the year.
Correct A. ₦180,000
B. ₦180,000
C. ₦180,000
D. ₦180,000

Correct Answer: A

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Question 13
A company's balance sheet as at 31st December 2024 is as follows: Equity: ₦500,000; Liabilities: ₦1,000,000. Calculate the ratio of equity to liabilities.
Correct A. 1:2
B. 1:2
C. 1:2
D. 1:2

Correct Answer: A

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Question 14
A company's manufacturing account for the year ended 31st December 2024 is as follows: Cost of goods manufactured: ₦1,500,000; Closing stock: ₦200,000. Calculate the cost of goods sold.
Correct A. ₦1,300,000
B. ₦1,300,000
C. ₦1,300,000
D. ₦1,300,000

Correct Answer: A

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Question 15
A company's cash book for the year ended 31st December 2024 is as follows: Cash received from customers: ₦1,500,000; Cash paid to suppliers: ₦1,200,000. Calculate the net cash inflow from customers.
Correct A. ₦300,000
B. ₦300,000
C. ₦300,000
D. ₦300,000

Correct Answer: A

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Question 16
A company manufactures two products, X and Y, using a common raw material. The production process for X requires 2 units of raw material and generates 1 unit of waste, while the production process for Y requires 3 units of raw material and generates 2 units of waste. If the company has 120 units of raw material available and wants to minimize waste generation, how many units of product X and product Y should it produce?
Correct A. (X = 30, Y = 20)
B. (X = 20, Y = 30)
C. (X = 40, Y = 10)
D. (X = 10, Y = 40)

Correct Answer: A

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Question 17
A partnership of three individuals has a capital of ₦500,000. The capital is divided in the ratio 2:3:4. If the profit is shared in the same ratio, what is the total profit earned by the partnership in a year?
A. ₦120,000
B. ₦150,000
Correct C. ₦180,000
D. ₦200,000

Correct Answer: C

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Question 18
A company uses a job costing system to account for its manufacturing activities. The following data is available for the current period: Job No. 101: Cost of raw materials = ₦10,000; Direct labor = ₦5,000; Overheads = ₦8,000. Job No. 102: Cost of raw materials = ₦12,000; Direct labor = ₦6,000; Overheads = ₦10,000. What is the total cost of production for the current period?
A. ₦35,000
B. ₦40,000
Correct C. ₦45,000
D. ₦50,000

Correct Answer: C

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Question 19
A government agency is responsible for the maintenance of a public park. The agency has a budget of ₦1,500,000 for the current year. The following expenses are incurred: Salaries = ₦600,000; Utilities = ₦200,000; Maintenance = ₦300,000; Miscellaneous = ₦100,000. What is the balance of the budget after all expenses have been paid?
Correct A. ₦100,000
B. ₦200,000
C. ₦300,000
D. ₦400,000

Correct Answer: A

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Question 20
A company uses a self-balancing ledger to record its transactions. The following transactions are recorded: Debit: Raw materials = ₦10,000; Direct labor = ₦5,000; Overheads = ₦8,000. Credit: Sales = ₦25,000. What is the balance of the ledger after all transactions have been recorded?
A. ₦8,000
B. ₦12,000
C. ₦16,000
Correct D. ₦20,000

Correct Answer: D

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Question 21
A company uses the single-entry system of accounting. The company's cash account shows a balance of ₦150,000. The company's bank statement shows a balance of ₦120,000. The difference between the two balances is ₦30,000. What is the most likely reason for this difference?
Correct A. The company has outstanding checks.
B. The company has deposited cash into the bank but has not yet recorded it.
C. The company has written checks but has not yet recorded them.
D. The company has made an error in its accounting records.

Correct Answer: A

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Question 22
A company's trial balance shows the following accounts: Debit: ₦100,000, Credit: ₦80,000. What is the correct balance of the account?
Correct A. ₦20,000
B. ₦20,000 (Debit)
C. ₦20,000 (Credit)
D. ₦20,000 (Error)

Correct Answer: A

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Question 23
A company's cash book shows the following transactions: Cash received from customers: ₦50,000, Cash paid to suppliers: ₦30,000. What is the net effect on the company's cash balance?
Correct A. ₦20,000 increase
B. ₦20,000 decrease
C. ₦20,000 (no change)
D. ₦20,000 (error)

Correct Answer: A

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Question 24
A company's bank reconciliation statement shows the following discrepancies: Outstanding checks: ₦10,000, Deposits in transit: ₦5,000. What is the net effect on the company's bank balance?
A. ₦15,000 increase
Correct B. ₦15,000 decrease
C. ₦15,000 (no change)
D. ₦15,000 (error)

Correct Answer: B

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Question 25
A company's trial balance shows the following accounts: Sales: ₦100,000, Cost of goods sold: ₦80,000. What is the gross profit?
Correct A. ₦20,000
B. ₦20,000 (Gross profit)
C. ₦20,000 (Loss)
D. ₦20,000 (Error)

Correct Answer: A

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