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.
Record difference in the books until errors are located
Accumulate debit and credit balances
Accommodate debit balances of profit statements
Record accounts of the general ledger
Correct answer is A
No explanation has been provided for this answer.
The main classes of shares are
Preference shares and roghts issue
Fixed shares and current share
Ordinary shares and preference shares
Redeemable shares and Irredeemable shares
Correct answer is C
No explanation has been provided for this answer.
Dividend proposed by a company is shown in its Balance Sheet as
Current asset
Current liability
Long-term liability
Fixed asset
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not a revenue expenditure?
Repair of generating set
Purchase of inventory
Extension of building
Payment of subscription
Correct answer is C
No explanation has been provided for this answer.
Company tax paid is debited to
Profit and loss appropriation
Manufacturing account
Profit and loss account
Trading account
Correct answer is A
No explanation has been provided for this answer.