ACC418 Past Question


Accounting student can attest to how difficult Acc418 is and why you need to study really hard to pass the examination with flying colors. Students undergo this examination process in their 400 level. Thus, this year, the same thing will be done. This past question we have compiled from previous years will help to determine what standards of key topics are to be covered by persons seeking to pass in accounting profession.

As a matter of fact, the use of past questions is one of the best ways of preparing for this examination. So, by using these past questions to revise and prepare for the upcoming exams, you will be able to find out what you already know and what you don’t know.

Why you need ACC418 Past Question

The Free Acc418 Past Questions and Answers we have provided will help or serve as a learning tools to get you prepared for the exam ahead and also to give you an insight on the type of questions you will be expecting at the examination hall.


How is ACC418 Past Question Pattern?

The exams is always patterned in objectives (multiple choice) format and it is not in CBT. We bring all the questions for many years and put them together but we indicate the specific years of their occurrence. The questions are usually objectives only with no theory irrespective of the course of study or subject combination.

Sample of ACC418 Past Question

Below is the free sample of the questions from the past questions. Look through each questions and discover topics to focus more on. To get a full copy of this past questions follow the instructions in this post;

ACC418 List of Questions

Q1 In accordance with Financial Regulations (FR) No 3205 â?? Revised to January 2009, which office is empowered to authorize parastatals to obtain loans or any other form of advance from Commercial Banks?
Office of the Auditor-General for the Federation.
Office of the Accountant General of the Federation.
Debt Management Office.
Bureau of Public Procurement.


Q2 The Federal Executive Council has power to award contracts in excess of
N20 million.
N40 million.
N50 million.
N100 million.

Q3 In accordance with Section 16 of Finance (Control and Management) Act LFN 2004 into which of the following accounts shall monies appropriated and not expended lapse and accrue to, at the expiration of the year, in respect of which such monies are appropriated?
Consolidated Revenue Fund.
Capital Development Fund.
Lapsed Capital Development Fund.
Contingency Fund.

Q4 Which of the following is NOT a method of preparing a public sector organizationâ??s annual budget?
Planning, programming and budgeting system.
Rolling plan method.
Line item method.
Incremental method.

Q5 Who among the following, is NOT a member of the Economic and Financial Crimes Commission?
Minister of Finance.
Chairman, National Drug Law Enforcement Agency (NDLEA).
Commissioner for Insurance.
Comptroller General, Nigerian Customs Service.

Q6 Which of the following is a source of government revenue?
Federation Account Revenue Heads
Federal Accounts Allocation Committee
Consolidated Revenue Fund
Value Added Tax

Q7 Pension is
gross salary, including allowances, paid to a retiring officer.
a monthly payment to an officer who is sick.
  a lump sum paid to an officer on forced retirement.
a monthly, quarterly or yearly payment to a retired officer who has served for a statutory period.

Q8 Which of the following is NOT an in-flow into a state governmentâ??s Consolidated Revenue Fund?
Statutory Allocation from Federation Account
Income tax of Armed Forces personnel
Court fees and medical fees

Q9 Which of these uses monetary and fiscal policies as a means of control over Government expenditure?
Ministry of Finance.
The Treasury.
The Executive.

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7 Tips to Prepare for Accounting Exams

  1. Don’t make reading your hobby: A lot of people put reading as a hobby in their CV, they might be right because they have finished schooling. But “You” are still schooling, so reading should be in top priority and not as a hobby. Read far and wide to enhance your level of aptitude
  2. Get Exams Preparation Materials: These involve textbooks, dictionaries, Acc408 Past Questions and Answers on Biology, mock questions, and others. These materials will enhance your mastering of the scope of the exams you are expecting.
  3. Attend Extramural Classes: Register and attend extramural classes at your location. This class will not only help you refresh your memory but will boast your classroom understanding and discoveries of new knowledge.
  4. Sleep when you feel like: When you are preparing for any exams, sleeping is very important because it helps in the consolidation of memory. Caution: Only sleep when you feel like it and don’t oversleep.
  5. Make sure you are healthy: Sickness can cause excessive feelings of tiredness and fatigue and will not allow you to concentrate on reading. If you are feeling as if you are not well, report to your parent, a nurse, or a doctor. Make sure you are well. Waec Result
  6. Eat when you feel like: During the exam preparation period, you are advised not to overeat, so as to avoid sleep. You need to eat little and light food whenever you feel like eating. Eat more of fruits, drink milk and glucose. This will help you to enhance retention. Npower Recruitment
  7. Reduce your time in social media: Some people live their entire life on Facebook, Twitter, WhatsApp, Messenger chat. This is so bad and catastrophic if you are preparing for exams. Try and reduce your time spent on social media during this time. Maybe after the exams, you can go back and sleep in it.

If you like these tips, consider sharing them with your friends and relatives. Do you have a question or comments? Put it on the comment form below. We will be pleased to hear from you and help you to score as high as possible.

We wish you good luck!

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