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 accounts has a debit balance?
Capital reserve
Revenue reserve
Share premium
Share discount
Correct answer is D
No explanation has been provided for this answer.
How much did Olu sell goods bought at N1,000 if he sells at a margin of 20% on selling price?
N1,250
N1,200
N1,000
N250
Correct answer is B
No explanation has been provided for this answer.
Current liability
Current asset
Long-term liability
Fictitious asset
Correct answer is B
No explanation has been provided for this answer.
The double entry for increasing provision for bad debt is debit
Debtor's account, credit provision for bad debt account
Profit and loss account, credit debtor's account
Debtor's account, credit profit and loss acount
Profit and loss account, credit provision for bad debt account
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not an example of input device?
Card reader
Keyboard
Visual display unit
Central processing unit
Correct answer is D
No explanation has been provided for this answer.