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.
27,150
43,350
16,200
34,350
Correct answer is A
No explanation has been provided for this answer.
A sales for N2,570 was recorded in the sales day book as N2750. The error committed was
Error of principle
Error of commission
Error of original entry
Compensating error
Correct answer is C
An error of original entry occurs when an incorrect amount is posted to the correct account. A particular example of an error of original entry is a transposition error where the numbers are not entered in the correct order. This type of error deals directly with the wrong use of figures
N1,500
N3,000
N1,800
N2,000
Correct answer is C
No explanation has been provided for this answer.
Equally
In accordance with an established
In proportion of current account balances
In proportion of weighted average of capital
Correct answer is A
Profit or loss are expected to be share equally in the absence of any agreement
17,500
38,200
20,700
27,200
Correct answer is C
No explanation has been provided for this answer.