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.
Cement, sand and carriage outwards
Water carriage inwards and cement
Sales boy's wages, cement and sand
Carriage outwards, carriage inwards and cement
Correct answer is A
No explanation has been provided for this answer.
Debiting manufacturing account and crediting trading acccount
Crediting sales account and debiting trading account
Debiting sales account and crediting trading account
Crediting manufacturing account and debiting trading account
Correct answer is D
No explanation has been provided for this answer.
In dealing with incomplete records, fixed assets are posted to?
Opening profit and loss as brought forward figures
Closing balance sheet as carried forward figures
Closing balance sheets as brought forward figures
Closing profit and loss as brought forward figures
Correct answer is C
No explanation has been provided for this answer.
The principal function of a sales ledger control account is to
Serve as internal check and provide quick information for the preparation of interim financial statements
Serve as external check and provide quick information for the preparation of interim financial statements
Provide quick information for the preparation of customers' statement
Provide information for the control of salesmen's activities
Correct answer is C
No explanation has been provided for this answer.
The main features of the single system are that?
Books of accounts are not maintained and business relies only on bank statement
The journal records are absent and only the main ledger is kept 7
There are incomplete classifications and recording procedures
Only credit sales transactions and credit purchase are recorded
Correct answer is C
No explanation has been provided for this answer.