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.
Used to pay all taxes due to government
Used to start a new partnership business by members who are willing
Shared equally by the existing partners
Used in paying the debts and liabilities of the firm to persons who are not partners
Correct answer is D
No explanation has been provided for this answer.
N10,000m
N12,000m
N90,000m
N11,000m
Correct answer is A
No explanation has been provided for this answer.
N30,000
N40,000
N50,000
N20,000
Correct answer is A
No explanation has been provided for this answer.
Control accounts help to verify the arithmetic accuracy of the postings from the
Subsidiary books into the trial balance
Ledger into the trial balance
Journals into the ledgers
Subsidiary books into the ledgers
Correct answer is D
No explanation has been provided for this answer.
keeping records under the single entry system has the advantage of
Quality in terms of records
Completeness in terms of records
Accuracy in terms of operation
Simplicity in terms of operation
Correct answer is D
No explanation has been provided for this answer.