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.
An effective accounting system should provide information
On new product and methods
For customer feed back and requirement
On internal and external reporting for managers and third parties
For promoters, directors, labour union and distributors
Correct answer is C
No explanation has been provided for this answer.
Accrual concept
Conservatism concept
Prudence concept
Materiality concept
Correct answer is A
No explanation has been provided for this answer.
Which of the following factors has aided the development of accounting?
The emergence of nation states
The discovery of mineral resources in commercial quantity
The growth in size of businesses and separation of ownership and management
The development and management of sophisticated monetary system
Correct answer is C
No explanation has been provided for this answer.
The amount of individual items on a government budget is called
Vote
Deposit
Loan
Grant
Correct answer is A
No explanation has been provided for this answer.
The cash bass of accounting requires the recognition of revenue only when they are
Due
Earned
Paid
Received
Correct answer is D
No explanation has been provided for this answer.