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.
Reccurrent expenditure of government is paid from
Reserved fund
Consolidated revenue fund
Development fund
Contigencies fund
Personal fund
Correct answer is B
No explanation has been provided for this answer.
In government imprest system the amount reimbursed is the
Actual amount spent
Amount of the float
Amount spent above the float
Balance of the float
Sum of unreceipted vouchers
Correct answer is B
No explanation has been provided for this answer.
Preliminary expenses of a limited liability company are
Fixed assets
Current assests
Fictitious assets
Fictitious liability
Current liability
Correct answer is C
No explanation has been provided for this answer.
Forfeited
Issued at a discount
Issued on prorate
Issued at par
Issued at a premium
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not on debtor's legal control account?
Credit sales
Cash sales
Bills receivable
Dishonoured cheque
Cash received from customers
Correct answer is B
No explanation has been provided for this answer.