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.
Return on capital employed
Gross profit margin
Net profit margin
Return on equity
Correct answer is A
Return on capital employed or ROCE is a profitability ratio that measures how efficiently a company can generate profits from its capital employed by comparing net operating profit to capital employed.
N404,000
N242,000
N204,000
144,000
N132,000
Correct answer is C
No explanation has been provided for this answer.
One of the objectives of accounting is that it can be used for
Business decision making
Due process in business
Motivating employees
Determining the work force
Correct answer is A
Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing the financial position, and aid in decision making with financial data and information about the business.
N1,368
N1,224,000
N1,924,000
N1,020,000
N964,000
Correct answer is D
No explanation has been provided for this answer.
N60,700
N23,500
N60,500
N82,500
Correct answer is C
Sales - Cost of Goods Sold = Gross Profit
COGS = Beginning Inventory + Purchases During the Period – Ending Inventory.
COGS = 2,500, + 120,000 - 3,000 = 119,500
gross profit for K = 180,000 - 119,500 = 60,500