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.
Which of the following is not a Nominal Account?
Rent
Wages
Discount
Land
Interest
Correct answer is D
No explanation has been provided for this answer.
Purchases in accounting refers to goods bought for
Repairs
Owner's use
Resale
Decorating offices
permanent use
Correct answer is C
No explanation has been provided for this answer.
A current asset
A current liability
A long term liability
A fictitious asset
Correct answer is E
No explanation has been provided for this answer.
The equivalent of a club's Receipt and payment account is
Cash account
Revenue account
Trading account
Suspense account
Profit and loss account
Correct answer is A
No explanation has been provided for this answer.
The term bad debts means debts
Recorded in wrong account
Owed by an employee
Paid with fake currency
That cannot be collected
Owed by a supplier
Correct answer is D
No explanation has been provided for this answer.