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.
Use the following information to answer the question below
530,000
370,000
350,000
330,000
Correct answer is B
No explanation has been provided for this answer.
Trade debtors at the end of the year
Cash sales for the year
Credit sales for the year
Amount transferred from the sales journal
Correct answer is A
A sales ledger control account, also called trade debtors control, is the part of your balance sheet that displays how much your customers owe the company.
Use the following information to answer the question that follows
94,000
106,000
111,000
116,000
Correct answer is D
Total cost of production = Cost of labor + Cost of raw materials + Overhead costs on manufacturing.
64,000 + 30,000 + 22,000 = 116,000
Use the following information to answer the question that follows
N64,000
N94,000
N111,000
N116,000
Correct answer is B
Prime cost = Direct materials cost + Direct labor cost
64,000 + 30,000 = 94,000
One of the components of factory overhead is............
Raw materials consumed
Manufacturing wages
Carriage inwards
Depreciation of plant and machinery
Correct answer is D
Costs that support production but are not direct materials or direct labor are considered overhead. It includes;