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 balance at the end of the period is
Le 270,000
Le 139, 000
Le 131,000
Le 120,000
Correct answer is C
No explanation has been provided for this answer.
Working capital ratio is
5 : 4
5 : 3
4 : 5
1 : 2
Correct answer is D
The working capital ratio is calculated simply by dividing total current assets by total current liabilities.
Current assets = 3000 + 4000 +6500 + 1500 = 15000
Current liabilities = 8000 + 4000 = 12000
15000/12000 = 1.25
The amount of working capital is
₦11,000
₦7,000
₦4,000
₦3,000
Correct answer is D
Working capital = current assets - current liabilities
Current assets= 3000 + 4000 + 6500 + 1500 = 15000
current liabilities= 8000 + 4000 = 12000
15000 - 12000 = 3000
The amount of recurrent expenditure was
Le 245,000
Le 175,000
Le 135,000
Le 80,000
Correct answer is C
Recurrent expenditure on goods and services is expenditure, which does not result in the creation or acquisition of fixed assets (new or second-hand). It consists mainly of expenditure on wages, salaries and supplements, purchases of goods and services and consumption of fixed capital (depreciation).
80000 + 55000 = 135000
Capital expenditure for the year was
Le 545,000
Le 490,000
Le 450,000
Le 300,000
Correct answer is B
Capital expenditures; money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment.
300,000 + 40,000 + 150,000 = 490,000
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