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 term bad debt is used to describe
A debt that cannot be recovered
A debt that is long over due
An overcharge on a debtor's account
A debt owned by a former employee
Correct answer is A
No explanation has been provided for this answer.
An amount set out of profit for other uses
An amount of loss from trading activities
An expense of buisiness to be paid for in cash
A loss in value of all business assets
Correct answer is A
No explanation has been provided for this answer.
Carriage inward expenses of a business is treated in
Trading account
Balance sheet
Appropriation account
Profit and loss account
Correct answer is A
No explanation has been provided for this answer.
Which of the following belongs to the normal ledger?
Salaries account
Fixtures account
Stock account
Debtors account
Correct answer is A
No explanation has been provided for this answer.
Discounts allowed is charged to
Trading account
Balance sheet
Current account
Profit and loss account
Correct answer is D
No explanation has been provided for this answer.