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.
Stock account is debited
Purchases account is debited
Stock account is credited
Mark-up account is debited
Correct answer is B
No explanation has been provided for this answer.
To compute gearing ratio, divide?
Profit by capital employed
Current assets by current liability
Profit by total assets
Long-term debts by equity capital
Correct answer is D
No explanation has been provided for this answer.
The part of equity which is payable on winding up is called?
General reserve
Revenue reserve
Capital reserve
Normal reserve
Correct answer is B
No explanation has been provided for this answer.
i, ii and iii only
i, ii and iv only
i, iii, and iv only
ii, iii and iv only
Correct answer is A
No explanation has been provided for this answer.
A book value of N14 per share
A book value of N20 per share
A deficit of N420,000
Retained earnings of N600,000
Correct answer is B
No explanation has been provided for this answer.