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.
Which of the following does a consignee prepare and send to his consignor?
Account receivable
Current account
Account payable
Account sales
Consignment account
Correct answer is D
No explanation has been provided for this answer.
The aggregate of amounts owed to a business by is customers is known as
Accounts receivable
Account current
Accounts payable
Accumulated fund
Debtors' fund
Correct answer is A
No explanation has been provided for this answer.
The maximum amount which a company can raise by way of selling share is
Issued capital
Working capital
Paid-up capital
Shareholders capital
Authorized capital
Correct answer is E
No explanation has been provided for this answer.
A fund established for the payment of minor expenses is
Cash discount
Cash flow
Petty cash
Accumulated fund
Reserve
Correct answer is D
No explanation has been provided for this answer.
i and v
i and ii
i, ii and iii
i and iv
i, iv and v
Correct answer is C
No explanation has been provided for this answer.