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.
Rent owing by a business is shown in the
Trading account
Trial balance
Balance sheet
Cash book
Correct answer is C
No explanation has been provided for this answer.
The cost of raw materials consumed is determined in the Manufacturing Account as
Opening stock plus purchases less closing stock
Purchases plus closing stock less opening stock
Cost of materials available plus closing stock
Cost of materials available less opening stock
Correct answer is A
No explanation has been provided for this answer.
Which of the following items is found on he credit side of a sales Ledger Control Account?
Credit sales
Debtors cheques dishonoured
Interest on overdue account
Bad debts written off
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a credit item in the sales ledger control account?
Cash paid
Discount allowed
Dishonoured cheque
Returns inward
Correct answer is D
No explanation has been provided for this answer.
Items on the left-hand side of a total debtors account are debits in the
Purchase ledger
Sales ledger
General ledger
Journal
Correct answer is B
No explanation has been provided for this answer.