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.
Had more revenues than expenses during the period
Did not owe much liabilities during the period
Received more cash than it paid out during the period
Made more cash payments than it received during the period
Correct answer is D
No explanation has been provided for this answer.
N6,150
N4,850
N4,650
N1,300
Correct answer is A
No explanation has been provided for this answer.
Receipt and payments account of a non-profit making organization is principally a summary of the?
Bank entries
Cash book entries
Expenditure entries
Balance sheet entries
Correct answer is B
No explanation has been provided for this answer.
The difference between the factory cost of production and the prime cost of production is?
Direct materials
Direct labour
Selling expenses
Overhead
Correct answer is B
No explanation has been provided for this answer.
Manufacturing costs can be classified based on
Timing of charges degree of averaging and size of capital
Degree of averaging, ease of traceability and timing of charges
Degree of averaging, size of floor space occupied and cost accounts
Number of employees, timing of charges and management style
Correct answer is D
No explanation has been provided for this answer.