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.
Debit side of the profit and loss account
Credit side of the profit and loss account
Debit side of the appropriation account
Debit side of the current account
Credit side of the appropriation account
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not a profit and loss appropriation account item?
Staff salaries
Interest on capital
Interest on money advanced by partners
Share of profit
Interest and drawings
Correct answer is A
No explanation has been provided for this answer.
Company tax
Unappropriated surplus
Proposed dividend
Transfer to reserve
Interim dividend paid
Correct answer is A
No explanation has been provided for this answer.
N100
N125
N500
N600
N625
Correct answer is E
No explanation has been provided for this answer.
Profit expressed as a proportion of cost price is known as
Gross profit
Profit make-up
Profit margin
Profit percentage
Profit ratio
Correct answer is B
No explanation has been provided for this answer.