Accounting questions and answers

Accounting Questions and Answers

If you are preparing for an accounting aptitude test or even a job interview, these accounting questions and answers will help you master the principles of accounting. This test covers accounting past questions from WAEC, JAMB, Post UTME exams and many more.

1,131.

Factory cost consists of

A.

Direct material and factory overhead

B.

Direct labour and direct expenses

C.

Direct labour and factory overhead

D.

Direct materials, direct labour, direct expenses and factory overhead

E.

Direct expenses and factory overhead

Correct answer is D

No explanation has been provided for this answer.

1,135.

A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400. Using the straight line method, the annual depreciation is

A.

N3,100

B.

N3,000

C.

N2,900

D.

N2,300

E.

N2,000

Correct answer is C

No explanation has been provided for this answer.