POST UTME UNILAG 2025 Accounting | Objective

Are you preparing for POST UTME UNILAG 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 partnership is dissolved when a partner dies. What is the accounting treatment for the deceased partner's share of profits?
A. ₦1250
B. ₦2500
Correct C. ₦3750
D. ₦5000

Correct Answer: C

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Question 2
A company has the following bank statement and cash book balances. Prepare a bank reconciliation statement.
A. ₦1250
Correct B. ₦2500
C. ₦3750
D. ₦5000

Correct Answer: B

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Question 3
A manufacturing company produces 1000 units of a product. The cost of production is ₦5000 per unit. If the selling price is ₦7500 per unit, what is the profit per unit?
A. ₦1250
B. ₦2500
C. ₦3750
Correct D. ₦5000

Correct Answer: D

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Question 4
A company has the following departmental accounts. Prepare a departmental income statement.
A. ₦1250
B. ₦2500
Correct C. ₦3750
D. ₦5000

Correct Answer: C

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Question 5
A public sector organization has the following financial statements. Analyze the financial performance of the organization.
A. ₦1250
B. ₦2500
C. ₦3750
Correct D. ₦5000

Correct Answer: D

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Question 6
A company issued 5,000, 10% debentures of ₦100 each at a discount of 5%. Calculate the amount received from debenture holders.
Correct A. ₦475,000
B. ₦480,000
C. ₦485,000
D. ₦490,000

Correct Answer: A

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Question 7
A company's cash book shows the following transactions: | Date | Particulars | Debit | Credit | | --- | --- | --- | --- | | 1 Jan | Cash | ₦10,000 | | | 2 Jan | Bank | | ₦8,000 | | 3 Jan | Cash | | ₦2,000 | | 4 Jan | Bank | ₦4,000 | | | 5 Jan | Cash | | ₦6,000 | What is the balance in the cash book?
A. ₦2,000
B. ₦4,000
Correct C. ₦6,000
D. ₦8,000

Correct Answer: C

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Question 8
A company uses the cash book to record all its financial transactions. The cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦125,000. What is the reason for the difference?
A. The company has not recorded a deposit of ₦5,000.
Correct B. The company has not recorded a withdrawal of ₦5,000.
C. The company has not recorded a bank charge of ₦5,000.
D. The company has not recorded a bank interest of ₦5,000.

Correct Answer: B

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Question 9
A company purchases a machine for ₦500,000 and depreciates it by 10% per annum. What is the value of the machine after 3 years?
Correct A. ₦300,000
B. ₦350,000
C. ₦400,000
D. ₦450,000

Correct Answer: A

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Question 10
A company has two control accounts: Cash and Bank. The Cash account shows a balance of ₦100,000 and the Bank account shows a balance of ₦200,000. What is the total value of the company's assets?
A. ₦300,000
B. ₦400,000
Correct C. ₦500,000
D. ₦600,000

Correct Answer: C

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Question 11
A government agency has a public sector accounting system that uses a self-balancing ledger. What is the main advantage of this system?
A. It is easy to maintain.
B. It is difficult to understand.
Correct C. It provides accurate financial information.
D. It is not suitable for large organizations.

Correct Answer: C

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Question 12
A company prepares a trial balance that shows a total debit balance of ₦500,000 and a total credit balance of ₦600,000. What is the reason for the difference?
A. The company has not recorded a transaction.
B. The company has not recorded a journal entry.
C. The company has not recorded a ledger posting.
Correct D. The company has not recorded a bank reconciliation.

Correct Answer: D

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Question 13
Determine the amount of depreciation for a machine that cost ₦250,000 and has a useful life of 5 years. The machine is expected to lose 10% of its value each year.
Correct A. ₦25,000
B. ₦50,000
C. ₦75,000
D. ₦100,000

Correct Answer: A

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Question 14
A company has a control account for its cash transactions. The following transactions occurred during the month: Debit: ₦10,000 (cash sales), ₦5,000 (cash purchases), ₦2,000 (bank charges) Credit: ₦8,000 (cash received from customers), ₦3,000 (cash paid to suppliers) Determine the balance in the control account.
A. ₦1,000
B. ₦2,000
Correct C. ₦3,000
D. ₦4,000

Correct Answer: C

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Question 15
A company uses the double-entry system of accounting. The following transactions occurred during the month: Debit: ₦15,000 (purchases), ₦8,000 (salaries), ₦3,000 (rent) Credit: ₦12,000 (sales), ₦5,000 (dividends) Determine the balance in the capital account.
A. ₦10,000
B. ₦15,000
Correct C. ₦20,000
D. ₦25,000

Correct Answer: C

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Question 16
A company has a cash book that shows the following transactions: Date | Debit | Credit 01/01 | ₦10,000 | ₦8,000 15/01 | ₦5,000 | ₦3,000 Determine the balance in the cash account.
A. ₦3,000
B. ₦5,000
Correct C. ₦7,000
D. ₦9,000

Correct Answer: C

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Question 17
A company has a bank reconciliation statement that shows the following: Bank Balance | ₦20,000 Cash in Hand | ₦10,000 Determine the total amount of cash available to the company.
A. ₦30,000
B. ₦35,000
Correct C. ₦40,000
D. ₦45,000

Correct Answer: C

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Question 18
A company's trading account for the year ended 31st December 2024 is as follows: Debit: Sales: ₦1,500,000 Cost of Goods Sold: ₦1,200,000 Credit: Purchases: ₦1,000,000 What is the company's net profit for the year?
Correct A. ₦300,000
B. ₦200,000
C. ₦400,000
D. ₦500,000

Correct Answer: A

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Question 19
A company's balance sheet as at 31st December 2024 is as follows: Assets: ₦1,500,000 Liabilities: ₦1,000,000 What is the company's equity?
Correct A. ₦500,000
B. ₦1,000,000
C. ₦1,500,000
D. ₦2,000,000

Correct Answer: A

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Question 20
A company's profit and loss account for the year ended 31st December 2024 is as follows: Sales: ₦1,500,000 Cost of Goods Sold: ₦1,200,000 Gross Profit: ₦300,000 Operating Expenses: ₦100,000 Net Profit: ₦200,000 What is the company's gross profit margin?
Correct A. 50%
B. 60%
C. 40%
D. 30%

Correct Answer: A

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Question 21
A company's balance sheet as at 31st December 2024 is as follows: Assets: ₦1,500,000 Liabilities: ₦1,000,000 What is the company's current ratio?
Correct A. 1.5
B. 2.0
C. 1.0
D. 3.0

Correct Answer: A

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Question 22
A company's profit and loss account for the year ended 31st December 2024 is as follows: Sales: ₦1,500,000 Cost of Goods Sold: ₦1,200,000 Gross Profit: ₦300,000 Operating Expenses: ₦100,000 Net Profit: ₦200,000 What is the company's net profit margin?
Correct A. 13.33%
B. 20%
C. 25%
D. 30%

Correct Answer: A

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Question 23
A company's balance sheet as at 31st December 2024 is as follows: Assets: ₦1,500,000 Liabilities: ₦1,000,000 What is the company's debt-to-equity ratio?
Correct A. 1.5
B. 2.0
C. 1.0
D. 3.0

Correct Answer: A

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Question 24
A company's profit and loss account for the year ended 31st December 2024 is as follows: Sales: ₦1,500,000 Cost of Goods Sold: ₦1,200,000 Gross Profit: ₦300,000 Operating Expenses: ₦100,000 Net Profit: ₦200,000 What is the company's return on equity?
Correct A. 10%
B. 20%
C. 25%
D. 30%

Correct Answer: A

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Question 25
A company's balance sheet as at 31st December 2024 is as follows: Assets: ₦1,500,000 Liabilities: ₦1,000,000 What is the company's liquidity ratio?
Correct A. 1.5
B. 2.0
C. 1.0
D. 3.0

Correct Answer: A

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