2022 NECO Financial Accounting Questions and Answers Essay & Objective

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2022 NECO Financial Accounting Questions and Answers for SS3 school candidates. Are you among those looking for how to get Financial Accounting NECO questions 2022? If yes, search no more because this article is for you. We will discuss how to get NECO Financial Accounting Essay and Objective correct questions and answers, how to answer Financial Accounting NECO questions 2022, and the steps you need to pass the NECO Financial Accounting exam in a sitting.

You’re about to write the 2022 NECO Financial Accounting exam and you want to make sure that you are prepared for it. But how do you know what will be on the NECO Financial Accounting exam? That’s why we created this article so that you can find all of the NECO Financial Accounting 2022 questions and answers right here!

In this article, we explore how you can get 2022 NECO Financial Accounting questions so that you can be well-prepared for your upcoming NECO exam, and also understand how NECO set Financial Accounting questions and how to answer them. With this guide, you can make A or B on Financial Accounting NECO 2022 exam.

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Let’s get started with what NECO Financial Accounting 2022 will look like.

What is NECO Financial Accounting?

The questions are grouped by topic, and each question includes a brief description and an example. The topics include atomic structure, chemical bonding, chemical reactions, and more.

Example Questions on NECO Financial Accounting

If you’re preparing for the 2022 NECO Financial Accounting exam, you might wonder what questions you can expect to see on the test. To help you study, we’ve compiled a list of example questions similar to those found on the NECO Financial Accounting exam.

  1. What is the name given to the process of natural selection?

  2. What is the name given to the change in an organism’s environment that leads to natural selection?

  3. How does natural selection work?

  4. What are the properties of acids and bases?

  5. What is the difference between a solution and a suspension?

  6. How can you determine the concentration of a solution?

Financial Accounting consists of two (2) parts which are Essay and Objective parts. These two parts are also known as Paper 1 and Paper 2.

Paper 1 of NECO Financial Accounting Questions 2022 will contain 50 objective questions to answer. This objective question has options A, B, C, and D. In which one option is the correct answer for each question. The next is Paper 2.

Paper 2 of 2022 Financial Accounting NECO has essay questions with instructions.

NECO Financial Accounting Questions and Answers 2022

Below are sample Financial Accounting NECO questions and answers for 2022.

Question 1: Explain the following terms

(i)   Accumulated Fund

(ii)  Statement of Affairs.

Answers to NECO 2022 Financial Accounting Question 1

Question 2: What is goodwill?

List four items of recurrent expenditure for a local government.

Explain the three types of inventory in the manufacturing account.

This is how to answer 2022 NECO Financial Accounting question 2 above. If you answer it this way, you are likely to get the full mark meant for it.

Next are NECO Financial Accounting Objective Questions for 2022.

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NECO Financial Accounting Objective Questions

Below are sample questions for NECO Financial Accounting obj for the ss3 students exam.

 1.    Revenue expenditure of a local government includes purchase of

A:    theatre equipment.

B:    incubators.

C:    x-ray machine

D:    drugs

2.    An item that would be considered a first charge against profit in a company’s account is

A:    general reserve.

B:    capital reserve.

C:    ordinary dividend.

D:    preference dividend.

3.     One of the items on the credit column of a trial balance is

A:    carriage inwards.

B:    carriage outwards.

C:    returns outwards.

D:    returns inwards.

How to get NECO Financial Accounting 2022 questions before the exam

If you want to get NECO Financial Accounting 2022 questions before the exam, you can do a few things. First, check with your teachers and classmates to see if anyone has a copy of the questions. If not, you can try searching online for previous years’ questions. Finally, remember to study hard and stay focused in the weeks leading up to the exam to be prepared for whatever questions come your way.

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