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.
Which of the following ratios gives an idea of the liquidity of a firm?
Turnover ratio
Quick ratio
Debit ratio
Dividend yield
Correct answer is B
No explanation has been provided for this answer.
The conversion of a partners business into a limited liability company affords the
General partners the chance of enjoying the limited laibility protection
Limited liability partners the chance of enjoying the limited liability protection
Creditors the chance of enjoying the limited liabiity protection
Debtors the chance of enjoying the limited liability protection
Correct answer is B
No explanation has been provided for this answer.
Credited to partners' capital account
Credited to partners' current account
Credited to appropriation account
Debited to partners' drawing account
Correct answer is B
No explanation has been provided for this answer.
N7,500
N6,000
N5,400
N4,500
Correct answer is C
No explanation has been provided for this answer.
Credited to land and building account
Debited to asset revaluation account
Credited to asset revaluation account
Credited to profit and loss appropriation account
Correct answer is B
No explanation has been provided for this answer.