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.
Omission
Principle
Commission
Original entry
Correct answer is B
No explanation has been provided for this answer.
What are the appropriate recording procedures for entries in the trial balance?
Source documents, ledgers and trial balance
Ledgers, trial balance and source documents
Ledgers, source documents and trial balance
Cash account, ledgers and trial balance
Correct answer is A
No explanation has been provided for this answer.
N110,000
N65,000
N55,000
N45,000
Correct answer is C
No explanation has been provided for this answer.
N40,800
N61,100
N88,200
N108 500
Correct answer is B
No explanation has been provided for this answer.
The journal entries for the purchase of stock on credit are to debit?
Stock account and credit cash account
Stock account and credit liability account
Purchase account and credit liability account
Suspense account and credit cash account
Correct answer is C
No explanation has been provided for this answer.