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.
The mark-up on a product is 2/3. The margin is
3/5
2/5
1/3
2/9
Correct answer is B
No explanation has been provided for this answer.
N200,000
N100,000
N20,000
N10,000
Correct answer is A
No explanation has been provided for this answer.
Goodwill is recognized in partnership when
The business makes a huge profit
The business has adequate bank balance
A partner is dormant
A new partner is admitted
Correct answer is B
No explanation has been provided for this answer.
N99,000
N64,000
N35,000
N34,000
Correct answer is C
Cash balance = cash sales - expenses
99,000 - (30,000 + 5,000 + 11,000 + 18,000)
99,000 - 64,000 = 35,000
N99,000
N64,000
N50,000
N35,000
Correct answer is A
Cash receipts = 50,000 + 49,000 = 99,000