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.
The amount by which assets exceed specific liabilities is called
Reserve
Provision
Premium
Bonus
Correct answer is A
No explanation has been provided for this answer.
The income accruing to debenture holders is called
Dividend
Net profit
Shares
Interest
Correct answer is D
No explanation has been provided for this answer.
Which of the following belongs to the sales ledger?
Motor Van Disposal account
Bank Account
Debtors Account
Rent and Rates Account
Correct answer is C
No explanation has been provided for this answer.
Record sales
Agree the trial balance
Record purchases
Prepare the balance sheet
Correct answer is B
No explanation has been provided for this answer.
Subscriptions in arrears is treated in the balance sheet of a club as
Current liability
Intangible assets
Fictitious asset
Current asset
Correct answer is D
No explanation has been provided for this answer.