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 corresponding entry of personal accounts found in the debit side of the cashbook is to
Credit real accounts
Credit the ledger
Debit real accounts
Debit the ledger
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer the question below
7 times
6 times
5 times
4 times
Correct answer is D
No explanation has been provided for this answer.
The two legally recognized professional accounting bodies in Nigeria are the
Nigerian Accounting Association and the Executive Cost and Management Accountants of Nigeria
Institute of Certified Public Accountants of Nigeria and the Institute of Cost and Management Accountants
Institute of Chartered Accountants of Nigeria and the Association of National Accountants of Nigeria
Association of Accountants of Nigeria and the Institute of Management Accountants of Nigeria
Correct answer is C
No explanation has been provided for this answer.
Use the following information to answer the question below
61.82%
38.17%
28.49%
14.25%
Correct answer is B
Gross profit = sales - cost of goods sold
= 18,600 - 11,500 = 7,100
Percentage = 7,100/18,600 x 100
= 38.17%
Share premium is classified in the balance sheet as
Fixed capital
Capital reserve
Revenue reserve
Short-term capital
Correct answer is B
No explanation has been provided for this answer.