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 used before the appropriation bill is approved?
Supplementary general warrant
Provisional general warrant
Reserved expenditure warrant
Virement warrant
Supplementary statutory expenditure warrant
Correct answer is D
No explanation has been provided for this answer.
The portion of the authorizes capital which has been allotted to members is
Uncalled capital
Paid-up capital
Issued capital
Authorized capital
unissued capital
Correct answer is E
No explanation has been provided for this answer.
Which of the following does not belong to the group?
Furniture and fittings
Plant and machinery
Building
Debtors
General reserve
Correct answer is E
No explanation has been provided for this answer.
The cash realized from the sale of asset on dissolution of partnership is
Debited to cash account and credit to asset account
Credited to cash account and debited to asset account
Debited to cash account and credited realisation account and credited to realisation account
Credited to cash account and debited to realisation account
Debited to realisation account abnd credited to asset account
Correct answer is C
No explanation has been provided for this answer.
Which of the following is a charge against profit?
Ordinary dividend
General reserve
Preference dividend
Debenture interest
Revenue reserve
Correct answer is A
No explanation has been provided for this answer.