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.
What is Kunle's share of the profit?
N600
N300
N180
N120
Correct answer is D
No explanation has been provided for this answer.
N4,000
N2,800
N1,500
N300
Correct answer is A
No explanation has been provided for this answer.
On dissolution, the final distribution of cash to partners is based on?
Partnership agreement
Articles of asssociation
Goodwill
Capital balances
Correct answer is D
No explanation has been provided for this answer.
Transfers from the head office to branches are best carried out at?
Cost price
Selling price
Cost plus mark-up
Market price
Correct answer is C
No explanation has been provided for this answer.
Discounts granted branch customers are treated as a debit to branch?
Stock account and a credit to branch debtors accounts
Discount account and a credit to branch bank account
Stock account and a credit to branch bank account
Discount account and a credit to branch debtors' account
Correct answer is D
No explanation has been provided for this answer.