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.
The difference in the sales ledger control account is transferred to the?
Profit and loss account
Sales account
Balance sheet
Trading account
Correct answer is D
No explanation has been provided for this answer.
N7,000
N6,000
N8,000
N9,000
Correct answer is B
No explanation has been provided for this answer.
Use the information below to answer question
N9,500
N12,500
N11,500
N1000
Correct answer is B
No explanation has been provided for this answer.
Weighted average method
Simple average method
FIFO method
LIFO method
Correct answer is C
No explanation has been provided for this answer.
The objective of a trading account is to establish the?
Cost of goods sold
Gross profit
Manufacturing profit
Net profit
Correct answer is B
No explanation has been provided for this answer.