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.
In a manufacturing company, wages paid to operatives increase the value of
Turnover
Prime cost
Gross profit
Overhead cost
Correct answer is B
No explanation has been provided for this answer.
In which of the following books will trade discount be recorded?
Cash book
General ledger
Purchases day book
Invoices
Journal voucher
Correct answer is C
No explanation has been provided for this answer.
Which of the following will a supplier send to a customer whose invoice was undercast?
Invoice
Debit note
Credit note
Cheque
Payment voucher
Correct answer is B
No explanation has been provided for this answer.
Which of the following accounts is not kept by a local government?
Departmental votes revenue account
Departmental votes expenditure account
Deposit account
Advances account
Profit and loss account
Correct answer is E
No explanation has been provided for this answer.
Credited to the trading account
Debited to the trading account
Credited to the profit account
Debited to the profit and loss account
Debited to the profit and loss appropriation account
Correct answer is B
No explanation has been provided for this answer.