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.
Financial accounting information is for
Internal use only
External use only
Business use only
Internal and external use
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not shown in the trial balance?
Opening stock
Closing stock
Discounts allowed
Discounts received
Correct answer is B
No explanation has been provided for this answer.
An example of direct expenses is
Insurance
Carriage inwards
Purchases of raw materials
Royalty
Correct answer is D
No explanation has been provided for this answer.
Factory costs excluding prime cost is
Overhead
Material cost
Fixed cost
Administration cost
Correct answer is A
No explanation has been provided for this answer.
The manufacturing account is prepared to determine the cost of
Trading
Production
Factory overhead
Raw materials
Correct answer is B
No explanation has been provided for this answer.