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 concept that has much influence over asset valuation and income determination is?
Entity
Realization
Conversactism
Matching
Correct answer is B
No explanation has been provided for this answer.
The double principle of accounting was developed by?
Frank Wood
Luca Pacioli
Akintola Williams
William Pickles
Correct answer is B
No explanation has been provided for this answer.
The statement of assets and liabilities in the public sector can be described as the?
Income and expenditure account of government
Appropriation account of government
Balance sheet of government
Funds flow statement of government
Correct answer is A
No explanation has been provided for this answer.
The budget statement presented to the legislature by the Chief Executive is called?
An appropriation act
A budget bill
An appropriation bill
A budget proposal
Correct answer is A
No explanation has been provided for this answer.
Consolidated Revenue Fund
Federation Account
Revenue Mobilization Allocation and Fiscal Commission's Account
Equalization Fund
Correct answer is A
No explanation has been provided for this answer.