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 information below to answer the question
Gross profit b/d Less: Salaries and wages Electricity Depreciation Net profit c/d |
Dept A |
Dept B ₦ 4,000 1,200 ? ? 1,600 4,000 |
Total 10,000 |
It is the tradition of the organization to apportion expenses in the proportion 60%:40% for A and B respectively.
The depreciation to be charged to department B is
₦500
₦300
₦400
₦600
Correct answer is C
No explanation has been provided for this answer.
Use the information below to answer the question
Gross profit b/d Less: Salaries and wages Electricity Depreciation Net profit c/d |
Dept A |
Dept B ₦ 4,000 1,200 ? ? 1,600 4,000 |
|
It is the tradition of the organization to apportion expenses in the proportion 60%:40% for A and B respectively.
What is the net profit made by department A?
₦2000
₦3600
₦3000
₦2400
Correct answer is D
No explanation has been provided for this answer.
Where partners maintain a fluctuating capital account, partners' share of profit is credited to
Capital account
Profit and loss appropriate account
Current account
Profit and loss account
Correct answer is A
No explanation has been provided for this answer.
₦245,000
₦215,000
₦295,000
₦265,000
Correct answer is A
No explanation has been provided for this answer.
Where partners maintain a fluctuating capital account, partners' share of profit is credited to
Capital account
Profit and loss appropriate account
Current account
Profit and loss account
Correct answer is A
No explanation has been provided for this answer.