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.
What is the total income for the period?
N13,890
N13,500
N10,500
N9,500
Correct answer is A
No explanation has been provided for this answer.
N30,000
N40,000
N50,000
N60,000
Correct answer is C
No explanation has been provided for this answer.
N6,950 credit
N6,950 debit
N6,000 credit
N6,000 debit
Correct answer is B
2600 + 28200 - 15000 - 7600 - 1250 = 6950 (debit balance)
N35,000
N40,000
N105,000
N115,000
Correct answer is C
Net profit = Gross profit - expenses
To get gross profit subtract cost of goods sold from sales. Hence we have;
370,000 - 230,000 = 140,000
Net profit = 140,000 - 35,000 = 105,000
100%
67%
50%
33%
22%
Correct answer is B
No explanation has been provided for this answer.