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.
An allowance given to a customer by a supplier for prompt payment is
Trade discount
Discount received
Cash discount
Cash rebate
Correct answer is C
No explanation has been provided for this answer.
The systematic recording of business transactions is
auditing
book-keeping
debiting
crediting
Correct answer is B
No explanation has been provided for this answer.
factory rates
factory power
factory building extension
factory depreciation
Correct answer is C
No explanation has been provided for this answer.
₦11,400
₦11,300
₦11,200
₦10,200
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a purpose for preparing departmental accounts? To
Compare the results of different departments
Employ staff into different departments
Reward departmental managers
Obtain information for formulating policies
Correct answer is B
No explanation has been provided for this answer.