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 type of stock recorded in the trading account of a manufacturing business is
Raw material
Work-In progress
Consumables
Finished goods
Correct answer is A
No explanation has been provided for this answer.
Company as a legal entity means that it
must always have a company lawyer
can sue and be sued
must settle disputes among shareholders in court
should prepare accounts approved by a lawyer
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer this question
Sales for the year 450,000
Purchases for the year 230,000
Opening stock 60,000
Closing stock 40,000
88%
80%
44.44%
26.67%
Correct answer is C
No explanation has been provided for this answer.
Use the following information to answer this question
Sales for the year 450,000
Purchases for the year 230,000
Opening stock 60,000
Closing stock
88 days
73 days
58 days
41 days
Correct answer is A
No explanation has been provided for this answer.
i, ii and iii
i and ii
i and iii
ii and iii
Correct answer is A
No explanation has been provided for this answer.