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.
A private company is different from a public company because
It does not restrict the right to transferits shares
It cannot invite members of the public to subscribe for its shares
Its shares are owned by one person
It can only offer its shares to members of the publicfor subscription
Correct answer is B
No explanation has been provided for this answer.
Accrual accounting differs from cash accounting because it recognizes?
Cash and creditors
Debtors and creditors
Cash and debitors
Prepayment and cash
Correct answer is B
No explanation has been provided for this answer.
The difference in the sales ledger control account is transferred to the?
Profit and loss account
Sales account
Balance sheet
Trading account
Correct answer is D
No explanation has been provided for this answer.
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