Are you preparing for WAEC and looking for Accounting past questions for 2025? If you’ve been asking questions like “Where can I get WAEC Accounting past questions?”, “What topics should I focus on?”, or “How are the questions structured?”, then this guide is for you.
West African Examinations Council Financial Accounting is a key commercial subject that requires understanding of principles, calculations, and proper record-keeping. Practicing past questions will help you understand the exam pattern and improve your chances of success. In this article, you will see sample WAEC Accounting past questions for 2025, including both objective and theory sections.
About WAEC Accounting Past Question
WAEC Accounting Past Question focuses on:
- Principles of accounting
- Ledger and journal entries
- Trial balance and financial statements
- Depreciation and control accounts
- Partnership and company accounts
The exam is divided into Objective (OBJ) and Theory sections.
WAEC Accounting Objective Questions (40 Questions)
Choose the correct answer from options A–D.
- Accounting is mainly concerned with
A. Recording financial transactions
B. Manufacturing goods
C. Marketing products
D. Managing staff
Answer: A - The book of original entry is
A. Ledger
B. Journal
C. Trial balance
D. Balance sheet
Answer: B - Which of the following is an asset?
A. Loan
B. Cash
C. Capital
D. Creditors
Answer: B - Which of the following is a liability?
A. Debtors
B. Cash
C. Loan
D. Stock
Answer: C - The accounting equation is
A. Assets = Liabilities + Capital
B. Assets = Capital − Liabilities
C. Capital = Assets + Liabilities
D. Liabilities = Assets − Capital
Answer: A - A trial balance is prepared to
A. Detect fraud
B. Balance accounts
C. Check arithmetical accuracy
D. Prepare budget
Answer: C - Which of the following is a capital expenditure?
A. Purchase of goods
B. Payment of wages
C. Purchase of machinery
D. Electricity bill
Answer: C - Which account records cash transactions?
A. Sales account
B. Cash book
C. Purchases account
D. Ledger
Answer: B - Which of the following is a current asset?
A. Land
B. Building
C. Debtors
D. Machinery
Answer: C - Which document is issued when goods are sold?
A. Invoice
B. Receipt
C. Voucher
D. Ledger
Answer: A
- Depreciation is
A. Increase in asset value
B. Decrease in asset value
C. Profit
D. Loss
Answer: B - Which account shows profit or loss?
A. Balance sheet
B. Trading account
C. Profit and loss account
D. Cash book
Answer: C - The double entry principle means
A. One entry
B. Two entries
C. Three entries
D. No entry
Answer: B - Which of the following is revenue expenditure?
A. Buying land
B. Repair of machine
C. Purchase of building
D. Buying equipment
Answer: B - Which account records credit sales?
A. Cash book
B. Sales journal
C. Purchases journal
D. Ledger
Answer: B - A debtor is
A. One who owes money
B. One who is owed money
C. A creditor
D. A manager
Answer: A - Which of the following is a fixed asset?
A. Cash
B. Debtors
C. Building
D. Stock
Answer: C - The excess of income over expenses is
A. Loss
B. Profit
C. Capital
D. Liability
Answer: B - Which of the following is a personal account?
A. Cash
B. Debtor
C. Rent
D. Sales
Answer: B - A creditor is
A. One who owes money
B. One who is owed money
C. A worker
D. A buyer
Answer: B - The balance sheet shows
A. Profit
B. Expenses
C. Financial position
D. Sales
Answer: C - Which of the following is not an asset?
A. Cash
B. Stock
C. Loan
D. Debtors
Answer: C - Which of the following is used to prepare accounts?
A. Calculator
B. Ledger
C. Book
D. File
Answer: B - Which account records purchases?
A. Sales account
B. Purchases account
C. Cash account
D. Bank account
Answer: B - Which of the following is a nominal account?
A. Cash
B. Rent
C. Debtors
D. Machinery
Answer: B - The process of balancing accounts is
A. Posting
B. Casting
C. Balancing
D. Recording
Answer: C - Which of the following is a source document?
A. Ledger
B. Invoice
C. Trial balance
D. Balance sheet
Answer: B - Which of the following is a liability?
A. Cash
B. Debtors
C. Creditors
D. Stock
Answer: C - The owner’s interest in the business is called
A. Capital
B. Profit
C. Expense
D. Asset
Answer: A - Which of the following is a trading account item?
A. Rent
B. Wages
C. Salary
D. Interest
Answer: B - Which of the following reduces profit?
A. Income
B. Expense
C. Asset
D. Capital
Answer: B - Which of the following is an example of income?
A. Rent received
B. Rent paid
C. Salary paid
D. Expenses
Answer: A - Which account shows stock?
A. Trading account
B. Profit account
C. Balance sheet
D. Cash book
Answer: C - Which of the following is a current liability?
A. Loan
B. Creditors
C. Building
D. Machinery
Answer: B - Which account is used to record expenses?
A. Real account
B. Nominal account
C. Personal account
D. Cash account
Answer: B - Which of the following is not a source document?
A. Invoice
B. Receipt
C. Voucher
D. Ledger
Answer: D - Which of the following is a real account?
A. Cash
B. Rent
C. Salary
D. Interest
Answer: A - Which of the following is used to check errors?
A. Ledger
B. Trial balance
C. Cash book
D. Journal
Answer: B - Which of the following is a business expense?
A. Drawing
B. Rent
C. Capital
D. Loan
Answer: B - Which of the following is withdrawn by the owner?
A. Capital
B. Drawing
C. Profit
D. Asset
Answer: B
Also Read: WAEC Physics Practical Past Questions and Answers 2025
WAEC Accounting Theory Questions 2025
Answer the following questions:
- Define accounting and state its functions.
- Explain the accounting equation.
- Prepare a simple trial balance.
- Distinguish between capital and revenue expenditure.
- Explain the concept of depreciation.
How to Use WAEC Past Questions Effectively
To succeed in WAEC Accounting:
- Practice past questions regularly
- Understand accounting principles
- Master calculations and formats
- Revise financial statements
- Focus on weak areas
Important Information
- WAEC questions often repeat in different forms
- Accuracy in calculations is very important
- Understanding formats is key
- Practice improves speed and confidence
Conclusion
Practicing WAEC Accounting past questions for 2025 is one of the best ways to prepare for the exam. It helps you understand the question pattern, improve speed, and build confidence.
Frequently Asked Questions (FAQs)
Are WAEC Accounting questions repeated?
Yes, West African Examinations Council often repeats questions, although they may be reworded or slightly changed. This is why practicing past questions is very important, because it helps you become familiar with common topics, question patterns, and the way accounting problems are usually presented.
Is Accounting practical compulsory?
No, Accounting does not have a practical exam like some science subjects. However, it still requires strong calculation skills, correct formats, and a good understanding of accounting principles to perform well.
How can I pass WAEC Accounting?
To pass WAEC Accounting, you need to study consistently, understand basic accounting principles, and practice calculations regularly. You should also learn how to prepare ledger accounts, trial balance, and final accounts correctly, since these areas are often tested.
How many papers are in WAEC Accounting?
There are usually two papers: Objective and Theory. The objective section tests your knowledge through multiple-choice questions, while the theory section requires written answers and calculations.
Where can I get more past questions?
You can get WAEC Accounting past questions from textbooks, your teachers, tutorial centres, and trusted educational websites. Using updated materials will help you practice better and stay familiar with the likely exam format.
