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.
The maximum amount which a company can raise by way of selling share is
Issued capital
Working capital
Paid-up capital
Shareholders capital
Authorized capital
Correct answer is E
No explanation has been provided for this answer.
A fund established for the payment of minor expenses is
Cash discount
Cash flow
Petty cash
Accumulated fund
Reserve
Correct answer is D
No explanation has been provided for this answer.
i and v
i and ii
i, ii and iii
i and iv
i, iv and v
Correct answer is C
No explanation has been provided for this answer.
When a business is purchased, the double entries required in the purchaser's book are debit,
Vendor's account and credit purchase of business account
Asset account and credit purchases of business account
Cash account and credit vendor's account
Purchase of business account
Vendor's account and credit cash account
Correct answer is E
No explanation has been provided for this answer.
The financial plan of the government for a year is contained in the
Vote book
Cash analysis book
Budget
General order
Gazette
Correct answer is C
No explanation has been provided for this answer.