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 account is said to have a debit balance because
The first entry made in it is on its debit side
There are more entries on the debit side than on the credit side
Total value of debit entries is more than total value of credit entries
There is no entry at all on the debit side
Correct answer is C
No explanation has been provided for this answer.
The accounting entry for depreciation at the end of each year is to debit
Provision for depreciation account and credit machinery account
Provision for depreciation account and credit profit and loss account
Trading account and credit provision for depreciation account
Manufacturing account and credit provision for depreciation account
Correct answer is A
No explanation has been provided for this answer.