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.
Both always have debit balances
Both always have credit balances
The head office current account has a credit balance while the branch current account has a debit balance
The head office current account has a debit balance while the branch current account has a credit balance
Correct answer is D
No explanation has been provided for this answer.
N6,500
N64,600
N85,380
N514,600
Correct answer is C
No explanation has been provided for this answer.
Departmental accounts re maintained to ascertain the
Profits of the entire organization
Contribution of each department
Expenses of each department
Sales of each department
Correct answer is B
No explanation has been provided for this answer.
The measure of a company's ability to pays its debts quickly is called
Current ratio
Turnover ratio
Acid test ratio
Return of investment
Correct answer is C
No explanation has been provided for this answer.
N1,000
N1,200
N4,800
N6,000
Correct answer is A
No explanation has been provided for this answer.