Accounting questions and answers

Accounting Questions and Answers

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.

1,941.

A three column cash book contains column for

A.

Cash, assets and liabilities

B.

Bank, cash and assets

C.

Cash, bank and return

D.

Discount, cash and bank

Correct answer is D

No explanation has been provided for this answer.

1,942.

A difference between the debit and credit totals in a trial balance is placed in

A.

Bank reconciliation statement

B.

Profit and loss account

C.

Suspense account

D.

Appropriate account

Correct answer is C

No explanation has been provided for this answer.

1,943.

Which of the following is not a source of revenue for local government?

A.

Mining royaltyies

B.

Radio and TV licences

C.

Tenement/property rates

D.

Business permit fee

Correct answer is A

No explanation has been provided for this answer.

1,944.

"Financial statements do not a disclose all information users need to know about a firm" This is the concept of

A.

Consistency

B.

Money measurement

C.

Dual aspect

D.

Materiality

Correct answer is B

No explanation has been provided for this answer.