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.

1,581.

The authority of the Accountant General to disburse from government fund is called

A.

Estimate

B.

Warrant

C.

Provision

D.

Vote

Correct answer is B

No explanation has been provided for this answer.

1,582.

Purchases of goods from Obi had been entered in Obike's Account. This is an error of

A.

Omission

B.

Compensation

C.

Commission

D.

Original entry

Correct answer is C

No explanation has been provided for this answer.

1,583.

One mega byte is equal to

A.

8 bytes

B.

1 million bytes

C.

10 million bytes

D.

1 billion bytes

Correct answer is A

No explanation has been provided for this answer.

1,584.

A bond acknowledging a loan to a company under the company's seal, bearing a fixed rate of interest is known as

A.

Certificate

B.

Agreement

C.

Bank loan

D.

Debenture

Correct answer is D

No explanation has been provided for this answer.

1,585.

Recurrent expenditure of government is paid from

A.

Contingencies fund

B.

Reserve fund

C.

Development fund

D.

Consolidated fund

Correct answer is D

No explanation has been provided for this answer.