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 basis of accounting which eliminates debtors and creditors is
cash basis
accral basis
fund basis
commitment basis
Correct answer is A
No explanation has been provided for this answer.
Creditors' accounts
Nominal accounts
Real acounts
Debtors' accounts
Correct answer is D
No explanation has been provided for this answer.
A book that contains the account for the financial transactions of an organizations is the
Journal
Ledger
Folio
Register
Correct answer is B
No explanation has been provided for this answer.
Public sector accounting is practiced in
Public limited companies
Government organization
Profit making organization
Public trainging company
Correct answer is B
No explanation has been provided for this answer.
A system where a separate cash book is maintained for small payments is
Single entry
Imprest
Float
Reimbursement
Correct answer is B
No explanation has been provided for this answer.