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.
Abba offers 5% cash discount on goods worth N10,000, The discount allowed account is to be?
Debited with N10,000
Credited with N10,000
Debited with N500
Credited with N500
Correct answer is C
No explanation has been provided for this answer.
Real entry
Special entry
Direct entry
Contra entry
Correct answer is D
No explanation has been provided for this answer.
N71,250 credit
N71,250 debit
N95,000 credit
N95,000 debit
Correct answer is A
No explanation has been provided for this answer.
i and ii
i and v
ii and iv
iii and v
Correct answer is A
No explanation has been provided for this answer.
i and v
ii and iv
ii and vi
iii and iv
Correct answer is D
No explanation has been provided for this answer.