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.

1,311.

A control account is

A.

an imprest system

B.

a statement of affairs

C.

a bank reconciliation statement

D.

a self balancing ledger system

Correct answer is D

No explanation has been provided for this answer.

1,313.

In a professional partnership, membership must be between

A.

2 and 8

B.

2 and 10

C.

2 and 50

D.

2 and any number

E.

2 and 20

Correct answer is C

No explanation has been provided for this answer.

1,314.

Impersonal real accounts include:
i. expenditure on telephone 
ii. motor vehicles 
iii. expenses on telegram 
iv. land and buildings

A.

i and iii

B.

iii and iv

C.

ii and iv

D.

i, ii and iii

E.

i, ii, iii and iv

Correct answer is C

No explanation has been provided for this answer.

1,315.

Ajijola Enterprises bought 40 pairs of shoes at N45 each from Kabi Shoe Factory on credit. This transaction will first be recorded by Ajijola in the

A.

Ledger

B.

Principal journal

C.

Cash book

D.

Purchases day book

E.

Sales day book

Correct answer is D

No explanation has been provided for this answer.