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.
Drawings account
Appropriation account
Capital account
Creditors account
Correct answer is B
No explanation has been provided for this answer.
Income and expenditure account
Receipt and payment account
Balance sheet
Statement of affairs
Correct answer is A
No explanation has been provided for this answer.
Is kept by the treasurer, the latter is not
Deals with all receipts and payments in the year regardless of the time it relates to, the latter is for just that year
Is a T-account, the latter is not
Is not in the ledger, the latter is
Correct answer is B
No explanation has been provided for this answer.
Which of the following categories of labour cost will be classified as direct?
Accountant's salary
Factory workers' salary
Managing director's salary
Cashier's salary
Correct answer is B
No explanation has been provided for this answer.
From which of the following sources are creditors control account most likely to be posted?
Supplier's invoices
Cash disbursements journal
Subsidiary debtors ledger
Purchases journal
Correct answer is D
No explanation has been provided for this answer.