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.
An item is fictitious because it
Does not exist
Is too costly
Is worthless
Cannot be sold for cash
Is bought on credit
Correct answer is A
No explanation has been provided for this answer.
A real account is the account of
Expenses or losses
Gains or income
Physical tangible items
Fictitious items
Current liabilities
Correct answer is D
No explanation has been provided for this answer.
Book of accounts
Summary of entries
Book of original entry
Double entry posting
Record of credit transactions
Correct answer is D
No explanation has been provided for this answer.
Sales Account, credit Branch Adjustment Account
Adjustment Accoutnt, credit Branch Stock Account
Stock Account, credit Branch Adjustment Account
Adjustment Account, credit Branch Profit and Loss Account
Profit and Lost Account, credit Branch Stock Account
Correct answer is C
No explanation has been provided for this answer.
N15,000
N9,000
N4,000
N3,000
N2,000
Correct answer is D
No explanation has been provided for this answer.