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 not a source document for recording sales?
Debit note
Credit note
Receipt
Sales journal
Invoice
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not a source document for recording sales?
Debit note
Credit note
Receipt
Sales journal
Invoice
Correct answer is D
No explanation has been provided for this answer.
A financial plan of action expressed in monetary terms is known as
Impurest
Consolidated fund
Warrant
Budget
Development fund
Correct answer is D
No explanation has been provided for this answer.
Where a business is purchased, the full amount of the purchase consideration is credited to
Purchase of Business Account
Creditor's Account
Vendor's Account
Purchaser's Account
Debtor's Account
Correct answer is A
No explanation has been provided for this answer.
Which of the following is an advantage of the impurest system?
making hig profits in the business
Rewarding the imprest holder
Easy preparation of the final accounts
Meeting small items of expenditure
Enabling the Trial Balance to agree
Correct answer is D
No explanation has been provided for this answer.