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.

1,686.

When both debit and credit entries in respect of a transaction are made in the same ledger account, this is

A.

A ledger entry

B.

An accounting entry

C.

A folio entry

D.

A contra entry

Correct answer is D

No explanation has been provided for this answer.

1,687.

Which of the following is the memory part that is available for use by the computer user?

A.

Bits

B.

RAM

C.

Data

D.

ROM

Correct answer is B

No explanation has been provided for this answer.

1,688.

The class of shareholders who are paid last in the event of wedding-up are

A.

Ordinary

B.

Preference

C.

Founder

D.

Treasury

Correct answer is A

No explanation has been provided for this answer.

1,689.

Which of the following is does not relate to a non-for-profit-making organization?

A.

Balance sheet

B.

Receipt and payment account

C.

Ledger Accounts

D.

Profit and Loss Account

Correct answer is D

No explanation has been provided for this answer.

1,690.

Which of the following is does not relate to a non-for-profit-making organization?

A.

Balance sheet

B.

Receipt and payment account

C.

Ledger Accounts

D.

Profit and Loss Account

Correct answer is D

No explanation has been provided for this answer.