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 bookkeeping is that it?
Provides permanent records for all financial transactions
Is futuristic in nature
Accepts responsibility for all wrong postings
Does not give room for double entry procedures
Correct answer is A
No explanation has been provided for this answer.
N20
N40
N400
N200
Correct answer is A
No explanation has been provided for this answer.
N4000
N2000
N6000
N8000
Correct answer is B
No explanation has been provided for this answer.
One of the benefits of book-keeping records is that they?
Give prospective investors accurate and direct information for decisions-making
Provide the public and creditors with details of the operations of an entity
Give legal backing to all the transactions undertaken by a business entity
Provide information without which the task of management would be difficult
Correct answer is A
No explanation has been provided for this answer.
A decraese in the total asssets by N5000
An increase in the total liabilities and owners' equity by by N15,000
An increase in the total assets by N15,000
A decrease in owners' equity by N5000
Correct answer is A
No explanation has been provided for this answer.