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.
Commission paid
Interest received
Direct withdrawal
Direct payment
Correct answer is D
No explanation has been provided for this answer.
Use the information below to answer this question
₦1800
₦800
₦2600
₦600
Correct answer is B
No explanation has been provided for this answer.
Use the information below to answer this question
₦3000
₦9400
₦3400
₦6000
Correct answer is A
capital = total assets - liabilities
2000 + 4000 - (1200 + 2000)
6000 - 3200 = 2800
2800 + 200 (drawings) = 3000
One of the major features of book keeping is that it
Is futuristic in nature
Accepts responsibility for all wrong postings
Provides permanent records for all financial transactions
Does not give room for double entry procedure
Correct answer is C
No explanation has been provided for this answer.
The amount of subscriptions accrued is reported in the balance sheet under
Fixed cost
Current asset
Long term liability
Current liability
Correct answer is B
No explanation has been provided for this answer.