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.
An ordinary share of N80 was issued at N96. The share was issued at?
Premium
Par
Discount
Loss
Correct answer is A
Share premium is the amount by which the amount received by a company for a stock issue exceeds its face value. when shares are sold at an amount higher than the face value it is sold at premium.
The financial plan of the government for a year is contained in the
Budget
Cash analysis book
Vote book
Gazette
Correct answer is A
Budget in this context refers to expenditures and revenue-collection decisions made in a given time frame at central or local levels of government. It contains the financial plan of the government for a given period of time.
N760,000
N744,800
N744,000
N784,000
Correct answer is A
5% x 800
5/100 x 800 = 40
800 - 40 = 760
The directors' salaries paid are items of?
Current liabilities
Profit and loss account
Trading account
Current account
Correct answer is B
No explanation has been provided for this answer.
13,000,000
12,000,000
9,000,000
15,700,000
Correct answer is C
6000 x 0.50 = 3000
6000 x 1 = 6000
3000 + 6000 = 9000