Home
2024 JAMB Financial Accounting Past Questions and Answers

2024 JAMB Financial Accounting Past Questions and Answers

By December 3, 2023 JAMB 0 Comments

2024 JAMB Financial Accounting Past Questions and Answers

Are you preparing for the 2024 Joint Admissions and Matriculation Board (JAMB) examination in Financial Accounting? Do you want to know the likely questions and answers that will come out in the exam? Do you want to get the latest syllabus and areas of concentration for Financial Accounting? If yes, then this blog post is for you.

2024 JAMB Financial Accounting Past Questions and Answers

In this post, we will provide you with the following information:

  • How to get 2024 JAMB questions and answers for Financial Accounting
  • 2024 JAMB CBT exam date for Financial Accounting
  • 2024 JAMB Financial Accounting likely questions and answers
  • 2024 JAMB Financial Accounting syllabus
  • 2024 JAMB Financial Accounting areas of concentration
  • Summary and FAQs about JAMB Financial Accounting past questions and answers

How to get 2024 JAMB questions and answers for Financial Accounting

One of the best ways to prepare for the 2024 JAMB exam in Financial Accounting is to practice with past questions and answers. Past questions and answers can help you to familiarize yourself with the exam format, difficulty level, and topics covered. They can also help you to identify your strengths and weaknesses, and improve your speed and accuracy.

There are different ways to get 2024 JAMB questions and answers for Financial Accounting. Some of them are:

  • Buying past question papers and answer booklets from bookshops or online vendors
  • Downloading past question papers and answer keys from websites or apps
  • Joining online platforms or groups that offer past question papers and answer solutions
  • Enrolling in tutorial centers or coaching classes that provide past question papers and answer explanations

However, you should be careful when choosing the source of your past questions and answers. Some sources may not be reliable, accurate, or up-to-date. Some may also be fraudulent or illegal. Therefore, you should always verify the authenticity and quality of the past questions and answers before using them.

2024 JAMB CBT exam date for Financial Accounting

The 2024 JAMB exam date for Financial Accounting has not been officially announced yet. However, based on the previous years, the exam is expected to take place between March and April 2024. The exact date, time, and venue of the exam will be communicated to the candidates through their email addresses, phone numbers, and JAMB profile pages.

Candidates are advised to check their email addresses, phone numbers, and JAMB profile pages regularly for any updates or changes regarding the exam date. Candidates are also advised to print out their exam slips and bring them along with their valid identification cards to the exam center.

2024 JAMB Financial Accounting likely questions and answers

The 2024 JAMB Financial Accounting exam will consist of 50 multiple-choice questions that will test the candidates’ knowledge and understanding of the principles and practices of financial accounting. The questions will cover various topics such as:

  • Accounting concepts and conventions
  • Accounting equation and double-entry system
  • Books of original entry and ledger accounts
  • Trial balance and errors
  • Financial statements and adjustments
  • Bank reconciliation statement and petty cash book
  • Control accounts and suspense accounts
  • Depreciation and disposal of fixed assets
  • Inventory valuation and accounting
  • Incomplete records and single-entry system
  • Partnership accounts and dissolution
  • Company accounts and financial ratios
  • Branch accounts and departmental accounts
  • Cash flow statement and statement of changes in equity
  • Public sector accounting and government budgeting
  • Accounting standards and ethics

The questions will be drawn from the past questions and the current syllabus of JAMB Financial Accounting. Therefore, candidates should study the past questions and the syllabus thoroughly to prepare for the exam.

To give you an idea of what to expect in the exam, here are some sample questions and answers from the past questions and the syllabus:

Question 1: Which of the following is not an accounting concept?

A) Going concern B) Materiality C) Prudence D) Consistency

Answer: B) Materiality

Explanation: Materiality is not an accounting concept, but an accounting convention. Accounting concepts are the basic assumptions and rules that underlie the preparation and presentation of financial statements. Accounting conventions are the common practices and customs that are followed by accountants in applying the accounting concepts. Materiality is an accounting convention that states that only items that are significant or relevant to the users of financial statements should be disclosed or reported.

Question 2: What is the effect of a credit purchase of goods on the accounting equation?

A) Increase in assets and increase in liabilities B) Increase in assets and increase in capital C) Decrease in assets and decrease in liabilities D) Decrease in assets and decrease in capital

Answer: A) Increase in assets and increase in liabilities

Explanation: The accounting equation is: Assets = Liabilities + Capital. A credit purchase of goods means that the business buys goods on account, without paying cash immediately. This increases the assets of the business (inventory) and also increases the liabilities of the business (accounts payable).

Question 3: Which of the following is the correct format of a ledger account?

A) Debit side on the left and credit side on the right B) Debit side on the right and credit side on the left C) Debit side on the top and credit side on the bottom D) Debit side on the bottom and credit side on the top

Answer: A) Debit side on the left and credit side on the right

Explanation: A ledger account is a record of all the transactions that affect a particular account in the double-entry system of accounting. A ledger account has two sides: the debit side and the credit side. The debit side is on the left and the credit side is on the right. The debit side records the increases in assets and expenses, and the decreases in liabilities, capital, and income. The credit side records the decreases in assets and expenses, and the increases in liabilities, capital, and income.

2024 JAMB Financial Accounting syllabus

The 2024 JAMB Financial Accounting syllabus is a document that outlines the topics, objectives, and recommended textbooks for the exam. The syllabus is designed to guide the candidates on what to study and what to expect in the exam. The syllabus is divided into five sections:

  • Section A: Principles and Practice of Financial Accounting
  • Section B: Public Sector Accounting
  • Section C: Cost and Management Accounting
  • Section D: Auditing and Investigation
  • Section E: Information and Communication Technology

Each section contains several topics and subtopics, along with the specific objectives and the recommended textbooks for each topic. Candidates should study the syllabus carefully and follow the objectives and the textbooks to prepare for the exam.

The syllabus can be downloaded from the JAMB website or obtained from the JAMB offices or accredited centers.

2024 JAMB Financial Accounting areas of concentration

The 2024 JAMB Financial Accounting areas of concentration are the key topics and subtopics that candidates should focus on when studying for the exam. The areas of concentration are derived from the syllabus and the past questions of JAMB Financial Accounting. The areas of concentration are not exhaustive, but they cover the most important and frequently tested aspects of the subject.

The areas of concentration for 2024 JAMB Financial Accounting are:

  • Accounting concepts and conventions
  • Accounting equation and double-entry system
  • Books of original entry and ledger accounts
  • Trial balance and errors
  • Financial statements and adjustments
  • Bank reconciliation statement and petty cash book
  • Control accounts and suspense accounts
  • Depreciation and disposal of fixed assets
  • Inventory valuation and accounting
  • Incomplete records and single-entry system
  • Partnership accounts and dissolution
  • Company accounts and financial ratios
  • Branch accounts and departmental accounts
  • Cash flow statement and statement of changes in equity
  • Public sector accounting and government budgeting
  • Accounting standards and ethics

Candidates should study these areas of concentration thoroughly and practice with past questions and answers to master them.

Summary and FAQs about JAMB Financial Accounting past questions and answers

In this blog post, we have provided you with the following information:

  • How to get 2024 JAMB questions and answers for Financial Accounting
  • 2024 JAMB CBT exam date for Financial Accounting
  • 2024 JAMB Financial Accounting likely questions and answers
  • 2024 JAMB Financial Accounting syllabus
  • 2024 JAMB Financial Accounting areas of concentration

We hope that this information will help you to prepare well for the 2024 JAMB exam in Financial Accounting and achieve your desired score.

To conclude, we will answer some of the frequently asked questions (FAQs) about JAMB Financial Accounting past questions and answers.

FAQs

Q: How many questions are there in the JAMB Financial Accounting exam?

A: There are 50 multiple-choice questions in the JAMB Financial Accounting exam.

Q: How long is the JAMB Financial Accounting exam?

A: The JAMB Financial Accounting exam is 40 minutes long.

Q: How is the JAMB Financial Accounting exam scored?

A: The JAMB Financial Accounting exam is scored out of 100 marks. Each question carries 2 marks. There is no negative marking for wrong answers.

Q: What is the minimum score required to pass the JAMB Financial Accounting exam?

A: The minimum score required to pass the JAMB Financial Accounting exam varies depending on the cut-off mark of the institution and course of choice. However, generally, a score of 50% or above is considered a good score.

Q: How can I check my JAMB Financial Accounting result?

A: You can check your JAMB Financial Accounting result by visiting the JAMB portal and logging in with your registration number

2024 jamb cbt expo, 2024 JAMB cbt Expo, 2024 JAMB cbt Expo, 2024 JAMB cbt Expo, 2024 JAMB cbt Expo, 2024 JAMB cbt Expo, 2024 JAMB cbt Expo, 2024 JAMB cbt Expo, 2024 JAMB cbt Expo,
2024 jamb expo, jamb expo,2024 jamb runz, jamb runs,2024 jamb runs, jamb runz,2024 jamb answers, jamb cbt,2024 jamb cbt expo, sure jamb runz,2024 jamb cbt runz,,2024 jamb 2024 runs/runz, jamb expo runs/runz 2024, jamb cbt expo runs/runz, 2024 jamb expo, 2024 jamb answers, 2024 jamb cbt runz/runs, Free JAMB Runz 2024, Free JAMB Runs/Runz, Jamb Cbt Runs,2024/2024/real jamb expo, Best JAMB 2024 Expo site, JAMB 2024/2024 Correct Expo, JAMB 2024/2024 Runs, JAMB Answers, JAMB CBT 2024 Runs, JAMB CBT EXPO, JAMB Exam Assistance, JAMB Exam Runs/runz, Waec Runz 2024 JAMB Expo Site, JAMB Real Expo / Runz, Trusted JAMB Exam Runz, score high in the jamb, legit jamb expo, best jamb expo,2024 jamb chokes,2024 jamb dubs, free jamb expo, free jamb answers, free jamb expo runz, free 2024 jamb runz/runs

Tags:

Related Posts

About Author

admin