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.
The excess of current assets over current liabilities is
Authourized share capital
Working capital work
Loan capital
Called-up capital
Correct answer is B
No explanation has been provided for this answer.
Shares sold at the nominal value are issued at
A discount
A premium
A loss
Par
Correct answer is D
No explanation has been provided for this answer.
Sale of goods for N600 to Ade was not posted, This is an error of
Omission
Commission
Principle
Compensation
Correct answer is A
No explanation has been provided for this answer.
Which of the following is a capital expenditure?
Salaries and wages
Stationery
Repairs of motor vehicle
Purchase of furniture
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not an intangible asset?
Lincence
Patents
Trademarks
Fixtures
Correct answer is D
No explanation has been provided for this answer.