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.

2,371.

Calculate the net profit?

A.

N1,620

B.

N1,920

C.

N1,420

D.

N2,120

Correct answer is C

No explanation has been provided for this answer.

2,373.

The control accounting can be used in?

A.

Recording all the business transactions of the enterprise

B.

Keeping records of all direct deposit in the bank account

C.

Monitoring the books of original entry

D.

Monitoring the efficiency of bookkeeping by accountants

Correct answer is D

No explanation has been provided for this answer.

2,374.

A typical example of a real account is?

A.

Prepayment

B.

Expenses

C.

Plant

D.

Income

Correct answer is C

No explanation has been provided for this answer.

2,375.

What is the value of stock as at the end of July 10 using FIFO?

A.

N14,400

B.

N13,300

C.

N15,200

D.

N12,600

Correct answer is B

No explanation has been provided for this answer.