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.
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
The concept which seeks to prevent profits from being overstated is
Materiality
Consistency
Prudence
Periodicity
Correct answer is C
No explanation has been provided for this answer.
Kadiri paid his debt to Suleman by cheque. The accounting entries in Kadiri s books are: debit
Bank Account; credit Suleman's Account
Bank Account, credit Debtors Account
Suleman's Account; credit Bank Account
Suleman's Account; credit Cash Account
Correct answer is C
No explanation has been provided for this answer.
In public sector accounting, salaries of employees are classified as
Capital expenditure
Capital receipt
Recurrent expenditure
Recurrent receipt
Correct answer is C
No explanation has been provided for this answer.