Accounting questions and answers

Accounting Questions and Answers

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.

1,573.

Patient and trade marks are classified under

A.

intangible assets

B.

current assets

C.

fixed assets

D.

wasting assets

Correct answer is A

No explanation has been provided for this answer.

1,574.

The procedure for utilizing the savings from one sub-head of expenditure to pay for another under the same head is

A.

Apportionment

B.

Virement

C.

Appropriation

D.

Allocation

Correct answer is B

No explanation has been provided for this answer.

1,575.

Which of the following is the responsibility of a local government?

A.

constructing market stalls

B.

raising income tax revenue

C.

developing highways and tolling them

D.

developing major ports for tax purposes

Correct answer is A

No explanation has been provided for this answer.