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.
Trading Account item
Profit and Loss Account item
Appropriation Account item
Receipts and Payments Account item
Balance Sheet item
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not a personal account?
Bolaji Account
Drawings Account
P.Z. Plc Account
Cash Account
Acada Club Account
Correct answer is C
No explanation has been provided for this answer.
An item is fictitious because it
Does not exist
Is too costly
Is worthless
Cannot be sold for cash
Is bought on credit
Correct answer is A
No explanation has been provided for this answer.
A real account is the account of
Expenses or losses
Gains or income
Physical tangible items
Fictitious items
Current liabilities
Correct answer is D
No explanation has been provided for this answer.
Sales Account, credit Branch Adjustment Account
Adjustment Accoutnt, credit Branch Stock Account
Stock Account, credit Branch Adjustment Account
Adjustment Account, credit Branch Profit and Loss Account
Profit and Lost Account, credit Branch Stock Account
Correct answer is C
No explanation has been provided for this answer.