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.
Debit bank, credit custmer and credit control account
Credit bank, debit customer, and credit control account
Debit customer, debit control account and credit bank
Credit control account, debit bank and debit customer
Correct answer is B
No explanation has been provided for this answer.
One of the advantage of the shortcomings of single entry procedures is that
A trial balance is not available
Profits are overestimated
There are no subsidiary books
There are no control accounts
Correct answer is A
No explanation has been provided for this answer.
A fixed cost is fixed only in relation to
The quality of goods produced
The quantity of goods sold
A given period of time and a range of activities
A given period of time and the nature of activity
Correct answer is D
No explanation has been provided for this answer.
The simplest form of single entry procedure consists fo keeping a
Day book or general journal
Cash book and ledger accounts showing debtors and creditors balances
Cash journal, sales journal and purchases journal
Day book in which transactions are described in chronological order
Correct answer is B
No explanation has been provided for this answer.
N24,577
N13,877
N7,067
N2,890
Correct answer is B
No explanation has been provided for this answer.