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.
N4,690,000
N2,620,000
N2,520,000
N1,565,000
Correct answer is C
No explanation has been provided for this answer.
Telephone N3,500 credit XYZ and KLM, N3,500
Telephone N3,500, credit cash N3,500
Sundries N3,500, credit KLM N3,500
Sundries N3,500, credit telephone N3,500
Correct answer is B
No explanation has been provided for this answer.
The process of bookkeeping includes records produced from?
Ledgers
Source documents
Minutes of meeting
Intuitive reasoning
Correct answer is A
Bookkeeping is the recording of financial transactions in which all of the financial transactions of the business (consisting of income and expenses) are entered into a database. It uses records recorded in the ledger.
Ledgers is a book or other collection of financial accounts.
Accruals
Materiality
Objectivity
Periodicity
Correct answer is A
No explanation has been provided for this answer.
Which of the following branches of accounting was first developed?
Cost accounting
Financial acounting
Management accounting
Petroleum accounting
Correct answer is B
No explanation has been provided for this answer.