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.
Expenditure incurred to maintain an asset's earning capacity is called
Capacity expenditure
Revenue expenditure
General expenditure
Tangible expenditure
intangible expenditure
Correct answer is B
No explanation has been provided for this answer.
Which of the following is a fictitious asset?
Preliminary expenses
Fixtures and fittings
Cash in hand
Land and buildings
Investment
Correct answer is A
No explanation has been provided for this answer.
Consignee's account, credit cash account, credit cash account
Cash account, credit consignor's account
Consignee's account, credit cash account
Cash account, credit consignee's account
Account sales, credit consignee's account
Correct answer is A
No explanation has been provided for this answer.
Which of the following does a consignee prepare and send to his consignor?
Account receivable
Current account
Account payable
Account sales
Consignment account
Correct answer is D
No explanation has been provided for this answer.
The aggregate of amounts owed to a business by is customers is known as
Accounts receivable
Account current
Accounts payable
Accumulated fund
Debtors' fund
Correct answer is A
No explanation has been provided for this answer.