Accounting questions and answers

Accounting Questions and Answers

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.

1,209.

A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400. Using the straight line method, the annual depreciation is

A.

N3,100

B.

N3,000

C.

N2,900

D.

N2,300

E.

N2,000

Correct answer is C

No explanation has been provided for this answer.

1,210.

Which of the following may cause depreciation? 
i. wear and tear 
ii. obsolescence and passage of time 
iii. fluctuation
 

A.

i, ii and iii

B.

i and ii

C.

i and iii

D.

ii and iii

E.

iii

Correct answer is B

No explanation has been provided for this answer.