Essential Financial Accounting for Senior Secondary Schools, written by R. A. Ibrahim and R. A. Kazeem and published by Tonad, is one of the most requested accounting textbooks among Nigerian commercial students preparing for WAEC, NECO, JAMB, and Post-UTME.
The book covers the full financial accounting syllabus from SS1 to SS3 — the accounting equation, ledger entries, trial balance, bank reconciliation, depreciation, partnership accounts, and the preparation of final accounts. Each chapter opens with clear performance objectives so you always know exactly what you should be able to do by the end of it.
Accounting is a subject where marks are lost on formatting as often as on understanding — a missing narration or a wrongly labelled column can cost you a full mark even when your figures are correct. This textbook drills the exact presentation formats examiners expect, alongside revision questions with worked answers at the end of every chapter.
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Ten real past-question-style items on Accounting, the kind you’ll meet solved and explained in the textbook itself. Tap an option to check your answer.
1. What is the accounting equation?
2. Which book of account is known as the ‘book of original entry’?
3. What does the term ‘depreciation’ refer to in accounting?
4. What is the term for the excess of income over expenditure in a trading period?
5. Which account records amounts owed to the business by customers?
6. What is the double-entry principle in accounting?
7. What financial statement shows a business’s assets, liabilities, and capital at a point in time?
8. What term describes money or goods withdrawn by the owner from the business for personal use?
9. Which method of depreciation charges an equal amount of depreciation each year?
10. Which exam bodies commonly set objective Accounting/Financial Accounting past questions for WAEC/NECO preparation?