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 rule of accounting equation requires that account payable should be placed under?
Liabilities
Equities
Assets
Capital
Correct answer is A
No explanation has been provided for this answer.
A source document is used for verifying the?
Amount due to creditors
Actual cost of an asset
Selling price of goods
Amount due from debtors
Correct answer is C
No explanation has been provided for this answer.
The loss of equipment in a fire disaster results in?
A decrease in current assets
An increase in liabiities and assets
A decrease in assets and capital
An increase in liabilities and a decrease in assets
Correct answer is C
No explanation has been provided for this answer.
The accounting principle that is applied to check arbitrary actions on the part of accountants is?
Consistency
Materiality
Objectivity
Realization
Correct answer is A
No explanation has been provided for this answer.
N300
N1050
N1200
N1950
Correct answer is C
No explanation has been provided for this answer.