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.
A book that contains individual accounts of suppliers is the
Purchase ledger
General ledger
Nominal ledger
Sales ledger
Correct answer is A
A bought ledger is a system in accounting by which a business records and monitors its creditors. The purchase ledger contains the individual accounts of suppliers from whom the business has made purchases on credit.
The source document used to make entries in the purchase day book is
Debit note
Credit note
Invoice
Receipt
Correct answer is C
An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer.
Virement
Fund accounting
Consolidated fund
Financial regulation
Correct answer is D
No explanation has been provided for this answer.
Federation account
Petroleum Technology Development Fund
Central Bank Account
Development fund
Correct answer is A
No explanation has been provided for this answer.
#675,000
#975,000
#1,350,000
#1,950,000
Correct answer is D
No explanation has been provided for this answer.