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 objective of the purchase ledger control account is to established the?
Credit purchases
Net profit
Total purchases
Gross profit
Correct answer is A
No explanation has been provided for this answer.
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50%
40%
30%
20%
Correct answer is D
No explanation has been provided for this answer.
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N11,000
N11,200
N11,400
N11,300
Correct answer is A
No explanation has been provided for this answer.
Fatima withdraws goods from the business for personal use. the accounting treatment is to debit?
Stock account and credit profit and loss account
Drawings account and credit stock account
Profit and loss account and credit drawing account
Stock account and credit drawings account
Correct answer is B
No explanation has been provided for this answer.
The tier of government that uses financial memorandum is the?
Federal government
State government
Local government
Municipal government
Correct answer is C
No explanation has been provided for this answer.