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.
A partner's drawing is debited to
Profit and loss appropriation account
Interest account
Loan account
Current account
Trading account
Correct answer is D
No explanation has been provided for this answer.
Which of the following is the most liquid?
Land and buildings
Cash at bank
Machinery
Goodwill
Furnitures and fittings
Correct answer is B
No explanation has been provided for this answer.
Interest on Johnson's drawing is
N500
N300
N200
N150
N100
Correct answer is B
No explanation has been provided for this answer.
Purchases in accounting refers to goods bought for
Repairs
Owner's use
Resale
Decorating offices
permanent use
Correct answer is C
No explanation has been provided for this answer.
A current asset
A current liability
A long term liability
A fictitious asset
Correct answer is E
No explanation has been provided for this answer.