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.
Which of the following is not a real account?
building account
motor vehicle account
patents account
furniture account
Correct answer is C
No explanation has been provided for this answer.
Holder of ordinary shares do not have the right to
participate in additional issue of shares
vote at annual general meetings
elect the board of directors
receive dividends at a predetermined rate
Correct answer is D
No explanation has been provided for this answer.
The double entry in the books to write off goodwill is
debit Goodwill account, credit capital account
debit Goodwill account, credit revaluation account
debit profit and loss appropriation account, credit Goodwill account
debit Trading account, credit Goodwill account
Correct answer is C
No explanation has been provided for this answer.
The maximum amount which a company is allowed to raise through the sale of shares is
Authorized capital
Paid-up capital
Issued capital
Working capital
Correct answer is A
No explanation has been provided for this answer.
Le 450,000
Le 150,000
Le 50,000
Le 48,000
Correct answer is C
No explanation has been provided for this answer.