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.
Use the following to answer the given question
N45,000
N30,000
N25,000
N20,000
N15,000
Correct answer is E
No explanation has been provided for this answer.
What are accounting entries for bad debts recovered?
Debit debtor's account, credit bad debts recovered account
Credit debtor's account, debit bad debts recovered account
Debit debtor's credit sales account
Credit debtor's account, debit sales account
Credit cash account, debit sales account
Correct answer is A
No explanation has been provided for this answer.
Which of the following is capital expenditure?
Purchase of stock
A purchase of motor vehicles for sale
Subscriptions paid
Extension of building
Repairs of generator
Correct answer is D
No explanation has been provided for this answer.
Which of the following does not lead to depreciation assets?
Wear and tear
Passage of time
Devaluation of Naira
Obsolescence
Usage
Correct answer is C
No explanation has been provided for this answer.
Expenses incurred but not yet paid is
Contigent liability
Current liability
Current asset
Fixed asset
Capital expenditure
Correct answer is B
No explanation has been provided for this answer.