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.
A sales journal is used to record
Sales expenses
Cash sales
Credit sales
Sales return
Sales commission
Correct answer is C
No explanation has been provided for this answer.
Bank charges
Presented cheque
Direct transfer
Standing order
Uncredited lodgements
Correct answer is B
No explanation has been provided for this answer.
Sales day book
Purchases day book
Cash book
Cheque book
Journal book
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a revenue receipt?
Receipt from sales of goods
Rent from premises sublet
Interest on savings account
Cash on sale of fixed asset
Receipt from trade debtors
Correct answer is E
No explanation has been provided for this answer.
Which of the following serves the same purpose as a Trading Account?
Branch Adjustment Account
Goods sent to Branch Account
Branch Stock Account
Branch Debtors Account
Branch Returns Account
Correct answer is C
No explanation has been provided for this answer.