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 balance on the provision for depreciation account is?
Added to fixed assets on the balance sheet
Deducted from the fixed assets on the balance sheet
Deducted from the profit and loss account
Added to current liabilities of the account
Correct answer is B
No explanation has been provided for this answer.
N2,300
N9,900
N17,100
N19,500
Correct answer is A
No explanation has been provided for this answer.
The imprest account is subsidiary to the
Ledger account
Bank account
Cash book
Bank column
Correct answer is B
No explanation has been provided for this answer.
The receipt whose name appears on a cheque is called a
Payer
Drawer
Drawee
Payee
Correct answer is D
No explanation has been provided for this answer.
A debit in the suspense accounting will appear in the balance sheet as?
A current asset
A current liability
Capital
Drawings
Correct answer is A
No explanation has been provided for this answer.