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 total of the sales journal is posted to the
Credit side of sales ledger
Credit side of sales account
Debit side of sales account
Debit side of sales ledger
Correct answer is B
No explanation has been provided for this answer.
A debit entry in the cash account and a corresponding credit in Alieu's account indicate a
Receipt of cash from alieu
Payment of cash to Alieu
Sale of goods to Alieu for cash
Purchases of goods from alieu for cash
Correct answer is A
No explanation has been provided for this answer.
Debited to suspense account
Credited to suspense account
Debited to assets accounts
Credited to asset account
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer the given question
₦11,430
₦11,295
₦11,130
₦10,965
Correct answer is C
No explanation has been provided for this answer.
Which of the following statements is not true?
A trial balance is an account having debit and credit sides
Expenses, losses and assets have debit balances
Revenues, gains and liabilities have credit balances
A trial balance is a list of balances extracted from ledger accounts
Correct answer is A
No explanation has been provided for this answer.