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.
One of the major features of book keeping is that it
Is futuristic in nature
Accepts responsibility for all wrong postings
Provides permanent records for all financial transactions
Does not give room for double entry procedure
Correct answer is C
No explanation has been provided for this answer.
The amount of subscriptions accrued is reported in the balance sheet under
Fixed cost
Current asset
Long term liability
Current liability
Correct answer is B
No explanation has been provided for this answer.
Accrual accounting differs from cash accounting because it recognizes
Prepayment and cash
Cash and creditors
Cash and debtors
Debtors and creditors
Correct answer is D
No explanation has been provided for this answer.
Use the following information below to answer this question
₦450
₦300
₦50
₦200
Correct answer is C
No explanation has been provided for this answer.
Use the following information below to answer this question
₦150
₦350
₦250
₦500
Correct answer is B
No explanation has been provided for this answer.