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.
In an incomplete record, the preparation of the bank reconciliation ensures that
All cash taking are banked
The cash book is correct
There are no overdrafts
There are no hidden loans
Correct answer is A
No explanation has been provided for this answer.
An entry in a subsidiary book which does not form part of the double entry system is a
Contra entry
Journal entry
Single entry
Memorandum entry
Correct answer is D
No explanation has been provided for this answer.
N950
N970
N430
N380
Correct answer is A
No explanation has been provided for this answer.
In preparing the final accounts, the bad debt account is closed by a transfer to the
Balance sheet
Provision for bad debt account
Profit and loss account
Trading account
Correct answer is C
No explanation has been provided for this answer.
N2575
N2985
N3250
N3925
Correct answer is B
No explanation has been provided for this answer.