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.
Gavon. Ltd. failed to record N2,000 wages. The error committed is that of
Omission
Commission
Principle
Compensation
Original entry
Correct answer is A
No explanation has been provided for this answer.
Income received in advance is shown in the balance sheet as
Current asset
Intangible asset
Tangible asset
Long term liabilities
Current liabilities
Correct answer is A
No explanation has been provided for this answer.
Which of the following is a Revenue Income?
The sale proceeds of an old table
The sale proceeds of shares
Loan refund
Debt recovered
The sale proceeds of an old typewriter
Correct answer is D
No explanation has been provided for this answer.
Current asset
Fixed asset
Long term liability
Current liability
Tangible asset
Correct answer is C
No explanation has been provided for this answer.
Trade debts amounting to N300 were written off. Which of the following would be affected?
Purchases
Profit and losses
Creditors
Sales ledger
Trading account
Correct answer is D
No explanation has been provided for this answer.