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 ordinary shareholders enjoy the following right except the right to
Receive dividends at a predetermined rate
Vote at annual general meetings
Elect the board of directors
Participate in additional issues of shares
Correct answer is A
No explanation has been provided for this answer.
Which of the following stock valuation method is suitable under inflationary conditions?
LIFO
Simple average
FIFO
Weighted average
Correct answer is C
No explanation has been provided for this answer.
Sales ledger control account contains the total amount in respect of
Investors
Creditors
Shareholders
Debtors
Correct answer is D
No explanation has been provided for this answer.
An amount set aside to meet expenses whose value is not certain is a
Reserve
Liability
Provision
Prepayment
Correct answer is C
No explanation has been provided for this answer.
Set aside from profit for an unknown liability
Of loss from trading activities
Of profit from trading activities
Set aside from profit for a specific purpose
Correct answer is D
No explanation has been provided for this answer.