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 stock valuation method is suitable under inflationary conditions?
LIFO
Simple average
FIFO
Weighted average
Correct answer is C
No explanation has been provided for this answer.
An amount set aside to meet expenses whose value is not certain is a
Reserve
Liability
Provision
Prepayment
Correct answer is C
No explanation has been provided for this answer.
Set aside from profit for an unknown liability
Of loss from trading activities
Of profit from trading activities
Set aside from profit for a specific purpose
Correct answer is D
No explanation has been provided for this answer.
Use the following information to answer the question below
D473,000
D438,000
D422,000
D410,000
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer the question below
D112,000
D84,000
D77, 000
D49,000
Correct answer is B
No explanation has been provided for this answer.