POST UTME BABCOCK UNIVERSITY 2025 Accounting | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company has the following transactions:
Purchases: ₦250,000
Depreciation on a machine: ₦15,000
Interest on a loan: ₦8,000
Salaries: ₦120,000
Rent: ₦30,000
What is the total amount of expenses recorded in the company's accounting system?
Question 2
A company uses the single-entry system of accounting. The following transactions occurred during the year:
Depreciation on a machine: ₦15,000
Interest on a loan: ₦8,000
Salaries: ₦120,000
Rent: ₦30,000
Purchases: ₦250,000
What is the total amount of expenses recorded in the single-entry system?
Question 3
A company has the following transactions: Purchased office supplies for ₦50,000; purchased office equipment for ₦150,000; and sold office equipment for ₦100,000. What is the net effect on the company's cash balance?
Question 4
A company uses the straight-line method to depreciate its assets. The company's asset has a useful life of 5 years and a residual value of ₦20,000. What is the annual depreciation charge?
Question 5
A company produces two products, X and Y, using two machines, A and B. Machine A can produce 100 units of X and 50 units of Y per hour, while Machine B can produce 50 units of X and 100 units of Y per hour. If the company operates for 8 hours a day, and the total production cost is ₦120,000 per day, what is the cost per unit of product X?
Question 6
A company has the following transactions: Purchased office supplies for ₦50,000; purchased office equipment for ₦150,000; and sold office equipment for ₦100,000. What is the net effect on the company's cash balance?
Question 7
A company's trial balance shows the following balances:
Debit: ₹ 1,00,000, Credit: ₹ 50,000. What is the net effect on the company's cash balance?
Question 8
A partnership is formed between two individuals, A and B. The partnership agreement states that the profits will be shared in the ratio 3:2. However, the partnership has incurred a loss of ₦50,000. How will the loss be shared between A and B?
Question 9
A company issued 5,000 shares of 10 par value at a premium of 5 per share. The shares were sold for 15 each. Calculate the total amount received from the sale of shares.
Question 10
A company uses the single-entry system of accounting. The following transactions occurred during the year:
Depreciation on a machine: ₦15,000
Interest on a loan: ₦8,000
Salaries: ₦120,000
Rent: ₦30,000
Purchases: ₦250,000
What is the total amount of expenses recorded in the single-entry system?
Question 11
A public sector organization has the following transactions:
Salaries: ₦120,000
Rent: ₦30,000
Purchases: ₦250,000
Depreciation on a machine: ₦15,000
Interest on a loan: ₦8,000
What is the total amount of expenses recorded in the public sector accounting system?
Question 12
A company issued 10,000 shares of ₦10 par value at a premium of ₦5 per share. The shares were sold for ₦15 each. Calculate the total amount received from the sale of shares and the total amount of share capital.
Question 13
A company issued 5,000, 9% debentures of ₹ 100 each at a discount of 5%. Calculate the amount received from debenture holders.
Question 14
A company uses the weighted average method to value its inventory. The cost of goods available for sale is ₦1,500,000, and the total cost of the opening inventory is ₦300,000. If the company uses a perpetual inventory system, what is the total cost of the closing inventory?
Question 15
A company purchased a machine for ₦500,000. The machine depreciates at 10% per annum. Calculate the value of the machine after 3 years.
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