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.
Goods returned to the supplier is recorded in the accounts as: debit
Sales Returns Account; credit Suppliers' Account
Purchases Returns Account; credit Supplier's Account
Supplier's Account; credit Purchases Returns Account
Supplier's Account; credit Purchases Account
Correct answer is C
No explanation has been provided for this answer.
Reducing balance method charges depreciating as fixed percentage of the
net book value of asset
cost of asset
market value of asset
accumulated depreciation on asset
Correct answer is A
No explanation has been provided for this answer.
Use the information below to answer this question:
i and v
i and ii
ii and iv
iii and v
Correct answer is B
No explanation has been provided for this answer.
Use the following information below to answer this question.
D21,000
D19,428
D12,000
D9,000
Correct answer is C
No explanation has been provided for this answer.
Use the information below to answer this question:
iii and iv
i and v
ii and iv
ii and vi
Correct answer is A
No explanation has been provided for this answer.