JAMB Accounting Questions and Answers 2021/2022 Solution

There is this curiosity of getting the correct JAMB accounting questions 2021 and correct JAMB financial accounting answers 2021 before the exam in almost all JAMB 2021 candidates. So because of this many candidates have been sending us a request to send them the correct JAMB Accounting Questions and answers 2021 for their batch.

So, that is why we bring you this package for free. Well, all JAMB 2021 financial accounting questions are accompanied by multiple options and candidates are to pick just one correct answer by ticking on the radio button as shown below.

Which of the following is a sales Day Book used for recording ___?

A. hire purchase
B. sales returns
C. Credit sales
D. cash sales

The correct is C: Credit sales. So all you need to do is to drag your mouse pointer to the radio button beside C and tick on it. Candidates are to, first of all, read through each question and then decide the option they want to take and then tick the radio button behind the question.

JAMB Questions and Answers for financial accounting 2021/2022

99% of JAMB accounting questions and answers 2021 for the first set (1st batch or morning set), the second set (2nd batch or afternoon set), or third set (3rd batch or evening set) are set from JAMB financial accounting past questions and answers 2021 version.Expo solution for JAMB Accounting Questions and Answers 2021/2022 (Financial & Principles of account) for first, second & third batch/set

Download Accounting Syllabus

I have provided a material that will help you to know the JAMB 2021 accounting questions that JAMB will set for your batch. Below are the major topics JAMB financial accounting questions for 2021 will be set from.

With these topics, you will be able to know what to expect in the exam and that will help you to know how the JAMB accounting answers 2021 should look like.

JAMB Accounting Questions are set from the following categories: Financial Accounting, Cost Accounting, Auditing, Managerial Accounting, Accounting Information Systems, Forensic Accounting & Fiduciary Accounting.

Financial Accounting Questions: You will be tested on questions that are involved categorizing and recording of transactions for business, generating financial statements based on transactions. Other questions in this aspect will focus on the balance sheet and income statement in accordance with “Generally Accepting Accounting Points” (GAAP).

Cost Accounting Questions: (Managerial Accounting): Cost accounting questions are related to managerial accounting as used in manufacturing firms especially in firms that have a lot of resources and costs to manage. Managerial accounting questions will focus mostly on your familiarity with the financial operations of the company.

Auditing Questions: Know that questions from this section will be from the two types of auditing which are external and internal auditing.

Accounting Information Systems Questions: AIS questions will be set from everything topics that have to do with accounting systems, accounting processes, their application, installment, construction, and observation.

Fiduciary Accounting Questions: Questions from this branch will be around the accounting topics that have to do with Property management for people or businesses.

Sample Accounting Questions and Answers

1. ___ is the collection, recording, presenting &  interpreting of accounting data?

  1. Financial accounting
  2. management accounting
  3. cost accounting
  4. data processing

The Correct Answer is A: Financial accounting

2. The error in a situation where a salary account is debited instead of a stationary account is known as_____?

  1. omission
  2. commission
  3. principle
  4. compensation

The correct answer is B: commission

3. Another term for return-inwards is_____?

  • Purchases returns
  • Product returns
  • goods in transit
  • sales returns

The correct answer is D: sales returns

With this JAMB 2021 Financial Accounting questions and answers tips, I am sure all the first batch (1st set or morning batch), second batch (2nd set or afternoon batch) or third batch (3rd set or evening batch) candidates will be able to get better insights on the kind of JAMB Accounting Questions 2021 that they should be expecting.

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