Financial Accounting Exam Questions for SS1, SS2, SS3 all Term in Ms-Word/PDF for Senior Secondary School

The Financial Accounting Exam Questions for SS1, SS2 or SS3 all term is available at

On this page we have uploaded a free copy of the Senior Secondary School SS2 Second Term Financial Accounting Exam Questions.

Teacher and student can now have a feel of how the Financial Accounting questions for SS1-3 look like.

Before a student is promoted into the next class, he/she is expected to pass the above subject.

Most Student do fail or perform below expectation, as a result of this, we have compiled Financial Accounting exam question for student preparing for test or examination.

The SS1, SS2 & SS3 exam questions served as a reference material and also help teacher to set test and exam question.

Financial Accounting Exam Questions for SS1, SS2, SS3

Is based on the Nerdc Curriculum.

Can be view and read on any Smart Phone

Can be Printed out into hard copy.

Can be obtain on Micro-Soft Word Format.

Can be Edited to suit your need.

The paid version has up to 50 Multiple Objective Questions to choose from Out of Public Domain. Available only to subscriber.

Financial Accounting Exam Questions Paper SS1-3 – Benefit

The Benefit of Using Our Senior Secondary School Financial Accounting Exam Questions.

Teachers As a teacher using our Multiple Exam Question source make teaching more interesting. Reduce the workload. You can modify the questions to suit your need. You get best value for your money when you purchase from us.

Students As a student it make you identify key areas to focus on. Help you know your speed for the actual exam. Give you confidence and make you relax on the deal day.

How to Get SS1 – SS3 Accounting Past Questions

Step to get Financial Accounting Exam Questions for SSS ( 1 – 3 )


Here is an example of our Accounting exam questions for SS 1-3 cost Pattern.

SS 2 Financial Acct. 1st Term = N300

SS 2  Financial Acct. 2nd Term = N300

SS 2 Financial Acct. 3rd Term = N300


Make a Call. Call or whatsapp us on 08051311885 for the account number to make payment;

And how to receive your complete copy of the past questions paper.

Mode of Payment.

Mobile Transfer, POS and Direct Bank Deposit.

After Payment

Send us the following:

Depositor Name.

Screenshot of either your Debit alert; Successful transaction notice or bank teller.

Name of Product Paid for; e.g Exam Questions for Financial Accounting (SS 2)

Valid Email Address;

Lastly Call or whatsapp us for your payment verification and confirmation.


We will deliver the past question to you 10 mins after confirmation of payment to the email address you send to us.

Download Free Financial accounting Past Questions for SS2 1st Term

Link 1  Accounting Exam Questions

Link 2  Accounting Exam Questions


SUBJECT: Financial Accounting




Financial Accounting Objective Questions for SS2

1. Which of the following is not used in solving problems of incomplete records? 
(a) control accounting 
(b) statement of affairs 
(c) balance sheet 
(d) cash book

2. In a system of incomplete records, the opening capital is determined by preparing 
(a) balanced sheets 
(b) statements of affairs 
(c) cash book 
(d) trials balance

3. Which of the following is charged to trading account? 
(a) discount allowed 
(b) carriage outward 
(c) salaries 
(d) carriage inward 

4. The manufacturing account Is prepared to determine the cost of 
(a) trading 
(b) production 
(c) factory overhead 
(d) raw materials used

5. Factory cost excluding prime cost is 
(a) overhead 
(b) material cost 
(c) fixed cost 
(d) administrative cost

6. An example of direct expense is 
(a) insurance 
(b) carriage inward 
(c) purchases-of raw materials 
(d) royalty

7. Which of the following is not a balance sheet item 
(a) building 
(b) rent 
(c) furniture 
(d) debtors

8. Young stars club has a membership of 115 persons. Each member pays an annual subscription of N50. During the year ended 31st Dec. 2005, 8 members had not paid their subscriptions. The subscription recorded in the income and expenditure account for the year ended 31st December 2015 is 
(a) N5750 
(b) N5350 
(c) N400 
(d) N115

9. The subscription shown in the balance sheet as at 31st December 2005 is 
(a) N400 
(b) N150 
(c) N250 
(d) N350

10. In a partnership business, the net profit serves as opening figures for 
(a) trading account 
(b) profit and loss account 
(c) current account 
(d) appropriate account

11. in the preparation of manufacturing accounts, prime cost plus factory over heads equal to cost of
(a) materials available 
(b) production 
(c) sales 
(d) material used

12. Returns inward is also called 
(a) purchases returns 
(b) sales returns 
(c) goods on sale 
(d) goods in transit

13. Which of the following is not found in a partnership balance sheet 
(a) capital 
(b) drawings 
(c) credition 
(d) bank balance

14. Which of the following is not a debit item in partner’s appropriation account 
(a) interest on capital 
(b) salary 
(c) share of profit 
(d) share of loss

15. The difference between factory cost of goods produced and its market value is 
(a) interest 
(b) premium 
(c) manufacturing profit 
(d) manufacturing overhead 

16. An approach for discovering missing figures in incomplete records is the use of 
(a) cash book 
(b) control account 
(c) trading account 
(d) balance sheet

17. Carriage inward is posted to 
(a) trading account 
(b) profit and loss account 
(c) appropriation account 
(d) balance sheet

18. In the absence of an agreement, partners share profits 
(a) based on activities of a partner 
(b) based on capital contribution 
(c) on patronage basis 
(d) on equal basis

19. Which of the following is not a part of cost of production? 
(a) wages 
(b) factory power 
(c) advertising 
(d) cost of raw materials

20. Which of the following is not parts of the factory overhead? 
(a) factory salaries 
(b) factory lighting and heating 
(c) depreciation of plant and machinery 
(d) office expenses

Want more Objective Questions like this? Get the Complete Financial Acconting Exam Questions (Obj & Theory); In editable Ms-word format for any of the SS 1 – 3 Classes from us

What Others are downloading Exam Questions for Senior Secondary School

Financial Accounting Theory Questions for SS2 1st Term

What is manufacturing account?
1b. State the purpose of manufacturing account    
1c. Write short note on the following manufacturing terms 
i. cost of production 
ii. Prime cost
iii. Work-in-progress
2a. Define non-profit making organization
2b. State 5 sources of income for a non-profit making organization 
2c. Differentiate between subscription in advance and subscription in arrears

3a. What is single entry? 
3b. Give 3 disadvantages of single entry 
3c. Itemize the methods of converting single entry to double entry 

Leave a Reply

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