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 share is under-subscribed when
It is offered for sale at less than the nominal value
It is offered for sale at nominal value
The number of shares applied for is less than the offer
It is offered for sale at more thn norminal value
The number of shares applied for is more than the offer
Correct answer is C
No explanation has been provided for this answer.
Shares are sold at less than nominal value. They are issued at a
Profit
Loss
Discount
Premium
Par
Correct answer is C
No explanation has been provided for this answer.
General reserve
Capital reserve
Goodwill
Current asset
Share capital
Correct answer is B
No explanation has been provided for this answer.
Payment for future services are
Prepayment
Deposit
Accruals
Investment
Advances
Correct answer is E
No explanation has been provided for this answer.
Which of the following is a credit item on an income and expenditure account?
Bar expenses
Electricity
Salaries
Subscription
Rates
Correct answer is D
No explanation has been provided for this answer.