Skip to content
Home » NECO Book Keeping Past Questions & Answers PDF Download

NECO Book Keeping Past Questions & Answers PDF Download

Are you going to write bookkeeping in your National Examination Council examinations? If yes, then it is important that you start practicing the past questions ahead of the examination because only those who are prepared would perform well in the examination.

Passing Book Keeping in one sitting is very possible and one of the strategies used by people who were able to do this was to make use of past questions and answers. We have outlined questions gotten from previous examination years to help you prepare for the next examination.

One of the secrets of passing the NECO examination in any subject is to practice past questions and a lot of people can attest to this so if this is your first time writing Bookkeeping in NECO, ensure that you practice the free questions in this article and anyone you do not know the answer, keep it and once you are done, go and read on the topic related to that question.

NECO Book Keeping Past Question

The NECO Book Keeping examination is divided into two different sections with the first art being objectives, and the other part the theory section, and it is further divided into two different sections. Before you start answering questions, ensure that you go through the instructions as that is the first step to passing your NECO BookKeeping with flying colours also, ensure that you answer each question thoroughly and skip the ones that you do not know to conserve time.

NECO Book Keeping Examination Questions

1.A document that is sent from the seller to the buyer at a particular time showing the accounts of the buyer is referred to as
a. account document b. bank statement c. receipt booklet d. statement of account e. statement of records

2. The Book of Prime entry is referred to as Books of
a. account b. keeping cash entries c. ledger d. original entry e. recording items

3. Adeola Omojesu received cash of N20,000 from Deolamats. Which account is to be debited and which one is to be credited?
a. Credit Cash account with N20,000 at Deolamats account with N20,000 b. Credit Deolomats account with N20,000 and debit cash account with N20,000 c. Debit Adeola Omojesu’s account with N20,000 and credit Deolomat’s account with N20,000 d. Debit cash account with N20,000 and credit Adeola Omojesu’s account with N20,000 e. Debit Deolomats account with N20,000 and credit Adeola Omojesu’s account with N20,000

4.A credit balance in Agbeke’s account shows that Agbeke is a?
a. businesswoman b. creditor c. debtor d. partner e. supplier

5.The art of recording business transactions on a daily basis in the appropriate books is referred to as?
a. accounting b. auditing c. bookkeeping d. data processing e. statement of account

6.The principle of double-entry states that “For every
a. debit entry, there must be a corresponding credit entry b. debit there must be a debtor c. giver, there must be a corresponding giver d. receiver, there must be a corresponding giver e. receiver there must be a giver

7.Which of these is not an advantage of a control account?
a. Errors are easily discovered b. Frauds are easily detected c. Revealing the current assets and current liabilities d. Saves time e. Total debtors and creditors are easily ascertained

Use the following information to answer questions 8 to 10

A machinery was brought for n150,000 on 1st January 2002. Depreciation was provided at 10% annually on straight line method. It was sold on 31st December, 2005 for N89,500

8.Its accumulated depreciation provision as the time of sale is
a. N120,000 b. N68,000 c. N60,000 d. N58,000 e. N54,000

9.What is the Net book value of the machine at the time of sale?
a. N95,000 b. N90,000 c. N85,000 d. N80,000 e. N75,000

10.As a result of the sale of the asset, profit was reduced by?
a. N1,000 b. N800 c. N700 d. N600 e. N500

11.In a non-profit making organization the excess of assets over liabilities is referred to as?
a. accumulated fund b. capital c. loss d. net profit e. surplus

12.Which of these assets is a fixed asset to a motor dealer?
a. Cash at bank b. Cash at hand c. Motor Cars d. Premises e. Prepayment

Use the following information to answer Questions 13 and 14

Maggi incurred N76,000 to purchase a washing machine on 1st January 1997 and paid n6,000 for repairs same day.

13.How much was debited to the machine account?
a. N82,000 b. N80,000 c. N76,000 d. N70,000 e.N66,000

14.The N6,000 on repairs will be debited to which account?
a. Appropriation account b. Balance sheet c. Current account d. Profit and loss account e. Trading account

15. Cheif Majiyagbe, owner of Majiyagbe(Nig) Ent. withdrew goods for private use. The goods are debited to the drawings account and credited to ______________ account.
a. bank b. purchases c. salaries d. sales e. stock

Section A

Answer two questions from this section

1.Write short notes on the following:
a. Assets
b. Liabilities
c. Capital
d. Balance Sheet
e. Principle of double entry

2.(i) State two advantages each of any of the two of the following methods of issuing stock:
a. LIFO
b. FIFO
c. Simple Average Method
d. Weighted Average Method

ii. (a). What are source documents?
(b) List any three source documents

3 (a). State any five types of Business units or Organization
(b) What is Bank Statement?
c.List five causes of disagreement between the cash book and bank statement

4. State and explain the uses of any five subsidiary books

Section B

5. Mr Kukoyi started business with N16,000 cash on 1st January and paid some amount into the bank on 6th January. The following transactions took lace during the month:

January 7 Purchases by cheque ……………………………………………………………….. N5460
January 16 Cash Sales ………………………………………………………………………………… N3,423
January 17 Electricity paid by cheque ……………………………………………………… N850
Rent by cheque ……………………………………………………………….. N140
January 18 Drew Cash for Office Use…………………………………………………………… N2400
Sales: By cheque ……………………………………………………………….. N8504
By Cash ……………………………………………………………….. N960
January 21 Cash wages Paid ……………………………………………………………….. N1,000
Stationary bought for cash ……………………………………………………………….. N1000
January 22 Received Cheque from customers………………………………………………….. N1,000
Discounts allowed ……………………………………………………………….. N1,200
January 23 Drew cash for office use ……………………………………………………………. N400
January 24 Servicing and repairs by cash………………………………………………….. N240
January 25 Purchased goods by cash……………………………………………………….. N400
January 26 Rent paid by cheque ……………………………………………………………….. N300
January 27 Salaries by cheque ……………………………………………………………….. N1700
January 28 Cash paid into the bank ……………………………………………………….. N1,000
January 29 Paid creditors by cheque ………………………………………………….. N1,650
Paid creditors by cheque and discount received…………………………………………. N500

You are required to prepare three column cash book of Kukoyi

Before writing the examination, ensure that you go through the instructions at the top of the question paper as this would help you know the dos and don’t dos of the examination. This is the first step to being successful in the examination so take note of it.

If you can answer all the questions outlined in this article, then that means you are well prepared for the next NECO BookKeeping examination. If you are unable to answer all the questions, then try your best to study hard before the main examination.

Comment below if you want the full past questions also, subscribe to our mailing list and follow our social media pages

1 thought on “NECO Book Keeping Past Questions & Answers PDF Download”

Leave a Reply

Your email address will not be published. Required fields are marked *