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 approach for discovering missing figures in incomplete records is the use of
Cash book
Control accounts
Trading accounts
Balance sheets
Correct answer is B
No explanation has been provided for this answer.
When provision is made for doubtful doubt, the accounting entries are
Debit profit and loss account; credit provision for doubtful debt account
Debit debtors account; credit trading account
Debit profit and loss account ; credit sales account
Debit trading account; credit debtors account
Correct answer is A
No explanation has been provided for this answer.
i and ii only
i, ii and iii
ii and iii only
iii only
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not part of cost of production?
Direct material cost
Direct wages
Factory overheads
Administrative overheads
Correct answer is D
No explanation has been provided for this answer.
Mark-up on goods sent to branch are recorded in the books by crediting
Stock adjustment account; debiting branch stock account
Goods sent to branch accounts; debiting branch stock account
Bank stock account; debiting stock adjustment account
Branch stock account; credit cash account
Correct answer is C
No explanation has been provided for this answer.