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 original record containing the details of a transaction which serves as a basis for posting is
general ledger
source document
subsidiary book
trial balance
Correct answer is C
No explanation has been provided for this answer.
A branch that keeps its own records prepares the records of transactions with the head office in the
Branch Current Account
Branch Stock Account
Head Office Current Account
Profit and Loss Account
Correct answer is A
No explanation has been provided for this answer.
₦5,480,000
₦6,480,000
₦8,480,000
₦7,380,000
Correct answer is A
No explanation has been provided for this answer.
Forlah, a stock broker bought stationery for ₦12,000 by cash. To record this transaction, debit
cash and credit stationery
purchases and credit stationery
stationery and credit purchases
stationery and credit cash
Correct answer is D
No explanation has been provided for this answer.
Interdepartmental transfer
Inter-departmental sales
Intra-departmental purchases
Intra-department sales
Correct answer is C
No explanation has been provided for this answer.