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.
Outstanding cheques
Bank service charges
Deposit in the mail not yet received by the bank
Bank error, charging a company for another company's cheque
Correct answer is D
No explanation has been provided for this answer.
They must be balanced in the cash book and the difference taken to the debtors ledger
They must be balanced in the cash book and the difference taken to the trial balance
They should not be balanced in the cash book before being taking to the trial balance
They should not appear in the trial balance as they were already either received or paid out
Correct answer is D
No explanation has been provided for this answer.
N8,900
N9,800
N14,600
N16,400
Correct answer is D
No explanation has been provided for this answer.
A source document for the sales day book is
A requisition form
An invoice
A customer advice
A credit advice
Correct answer is B
No explanation has been provided for this answer.
A basic unifying concept in accounting implies that
Where creditors'account is zero, the assets are equal to the owner's equity
There should be a balance in the creditors' account in order to measure total assets
Revenues should be supported by invested and owner's capital
Total assets can be less than liabilities and equity
Correct answer is A
No explanation has been provided for this answer.