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.
i, ii, iii and iv
ii, iii, i and iv
iii, i, ii and iv
iv, iii, ii and iv
Correct answer is C
No explanation has been provided for this answer.
A liability or an expense
An expenditure or an income
An asset or an expense
An income
Correct answer is B
No explanation has been provided for this answer.
The capital of a sole trader changes as a result of
Paying wages by cash
Equipment purchased by cheque
Drawing by cheque
Purchase on credit
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a characteristic of trial balance?
It has columns for debit and credit balances
Total of debit balance equals total of credit balance
It is a statement
It is an account
Correct answer is D
No explanation has been provided for this answer.
The lodgement of business cash into the business bank account is an example of
Contra entry
Bank reconciliation
Self-balancing ledger
Reversal entry
Correct answer is A
No explanation has been provided for this answer.