NABTEB 2026 FINANCIAL ACCOUNTING ANSWERS (OBJ & ESSAY – TYPE A,B,C,&D)

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OBJECTIVE(OBJ) INSTRUCTION:
PLS KINDLY TRACE FROM YOUR QUESTIONS We Solved With (Type-A) Pls Trace If Your Centre Is Doing Other Types Like B&C&D Pls take note!
Questions are the same but reshuffled across A, B, C & D. Use these answers provided to trace the equivalent question in your option before answering,

F/Account-Obj

1. C. book keeping

2. D. 1449

3. A. principle

4. C. trial balance

5. A. N1,100,000

6. D. N100,000

7. C. N300,000

8. D. materiality

9. C. closing stock

10. A. total of debtors

11. C. cash, bank and discount

12. C. drawings and credit cash

13. B. statement of affairs

14. D. proceeds on sales

15. D. subscribe for shares

16. A. statement of affairs

17. B. debenture holders to procure the remaining one

18. D. (i), (ii) and (iv) only

19. B. manage the internal management of the company

20. A. premium

21. B. current assets

22. D. N147,675

23. B. Bank loan granted to the bank

24. C. going concern

25. A. real and nominal account

26. C. debit cash account, credit Yisa’s account

27. B. N19,010

28. C. bug

29. D. cursor

30. A. Constant power supply

31. C. voucher

32. A. Partner’s drawings

33. B. imprest

34. C. Consistency

35. B. Machinery account

36. B. N18,000

37. A. contingency fund

38. A. Cash book

39. B. commission

40. B. receipt of debt

41. D. subscriptions

42. C. public sector account

43. D. (i) and (iii) only

44. B. Purchases ledger

45. B. the liability of the business to its proprietor

46. A. profit and loss account

47. A. depreciation of factory building

48. B. prime cost

49. B. irrecoverable debt

50. B. discount received

COMPLETED

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NOTE:
PLEASE KINDLY TRACE AND CHECK THE QUESTIONS NUMBERING BEFORE COPYING TO AVOID ERRORS. WE SOLVED WITH (TYPE-A) SO IF YOUR CENTRE IS DOING OTHER TYPES LIKE (TYPE B&C&D) PLEASE CHECK THE NUMBER AND THE QUESTIONS AND COMPARE AND RE-NUMBER IN YOUR BOOKLET. PLEASE TAKE NOTE AND TAKE CAUTION ON OUR INSTRUCTIONS.
Options A, B, C & D are the same but reshuffled. Use the answers provided to trace the correct questions in your booklet before answering.

INSTRUCTION: ANSWER FIVE(5) QUESTIONS ONLY

(1a)
A ledger is the principal book of accounts where all individual transactions are recorded in their final, classified form using double-entry bookkeeping. It contains summarized financial information grouped into specific accounts (assets, liabilities, equity, revenues, and expenses).

(1b)
(i) Personal Accounts: Records transactions with individuals, firms, or corporations (e.g., Debtors and Creditors).
(ii) Real Accounts: Records transactions relating to tangible and intangible assets or properties (e.g., Machinery, Buildings, and Cash).
(iii) Nominal Accounts: Records transactions relating to expenses, losses, incomes, and gains (e.g., Rent Expense, Salary, and Sales Revenue).

(1c)
(i) Rent Account
(ii) Salaries and Wages Account
(iii) Insurance Account
(iv) Discount Allowed Account
(v) Discount Received Account
(vi) Sales Revenue Account
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(2)

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