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.
Which of the following is source of document for the preparation of debtors' ledger account?
Debit note
General journal
Purchases invoice
Sales invoice
Correct answer is D
No explanation has been provided for this answer.
A major factor that enhanced the early development of accounting is the?
Industrial Revolution
Growing of trade and commerce
Development of arithmetic
Invention of writing
Correct answer is B
No explanation has been provided for this answer.
The use of a three-column cash book is determine by?
Cash discounts
Trade discounts
Cash transactions
Bank transactions
Correct answer is A
No explanation has been provided for this answer.
A private company is different from a public company because
It does not restrict the right to transferits shares
It cannot invite members of the public to subscribe for its shares
Its shares are owned by one person
It can only offer its shares to members of the publicfor subscription
Correct answer is B
No explanation has been provided for this answer.
Use the information below to answer question
N14,000
N60,000
N34,000
N20,000
Correct answer is D
No explanation has been provided for this answer.