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.
Goods bought from Sanmah for Le1,600 was entered into Shamail's Account. This is an error of
Compensation
Commission
Original entry
Principle
Correct answer is B
No explanation has been provided for this answer.
In a single-entry accounting, purchases are ascertained using a
Trading account
Debtors control account
Statement of affairs
Creditors control account
Correct answer is D
No explanation has been provided for this answer.
6,440
3,880
3,500
1,320
Correct answer is D
No explanation has been provided for this answer.
16,800
14,300
8,300
7300
Correct answer is B
No explanation has been provided for this answer.
Quick ratio is calculated as X-Y:Z, where
x= stock; y=current assets and z= long-term liabilities
x = current assets; y = debtors and z= current liabilities
x=current assets; y= stock and z=current liabilities
x= debtors; y= stock and z=current assets
Correct answer is C
No explanation has been provided for this answer.