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.
N17,800
N14,000
N10,800
N7,000
N3,800
Correct answer is C
No explanation has been provided for this answer.
N6,400
N4,000
N3,200
N2,000
N1,2000
Correct answer is C
No explanation has been provided for this answer.
Goods stolen at the branch is debited to
Defalcations account
Branch stock account
Branch adjustment account
Branch debtors account
Correct answer is A
Defalcation predominantly refers to the theft, misuse or misappropriation of money or funds held by an official trustee, or other senior-level fiduciary. In this regard a defalcation account will be opened to record the stolen goods.
Which of the following expenses is allocated according to the floor area?
Wages and Salaries
Rent and Rates
Canteen Expenses
Discount allowed
Correct answer is B
No explanation has been provided for this answer.
A person who has applied to purchase shares in a company is referred to as
A promoter
A subscriber
An allottee
An underwriter
Correct answer is B
Companies issue their shares for subc=scription either publicly or by private placement. People who apply to subscribe (buy) the shares are subscribers.