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.
Real and cash accounts
Capital and nominal accounts
Real and normal accounts
Investment and real accounts
Interest received and real account
Correct answer is C
No explanation has been provided for this answer.
Which of the following does not appear in a bank statement?
Dividend received on behalf of customers
Bank charges
Insurance premium paid on behalf of customers
Dishonoured cheques
Uncredited charges
Correct answer is E
No explanation has been provided for this answer.
Discount received is shown in the
Credit side of sales ledger balances
Debit side f bought ledger balances
Credit side of bought ledger balances
Debit side of sales ledger balances
Sales ledger balances as contra entry
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not charged to Manufacturing Account?
Raw materials
Factory's wages
Distribution expenses
Royalties
Correct answer is C
No explanation has been provided for this answer.
An increase in assets only
A reduction of assets only
A reduction in assets and liabilities
An increase in assets and liabilities
A reduction in the bank account
Correct answer is C
No explanation has been provided for this answer.