Accounting Questions and Answers

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.

36.

Use the following information to answer the given question

\(\begin{array}{c|c} & Dr & Dr & \text{Balance}\\ \hline & ₦ & ₦ & ₦ \\ \text{2/1/06 Balance b/d} & & & 2,000 \\ \text{3/1/06 '23456'} & 500 & & 1,500\\ \text{4/1/06 Deposit} & & 1,000 & 2,500\\ \text{5/1/06 Deposit} & & 1500 & 4,000\\ \text{6/1/06 '23457'} & 3,000 & & 1,000\end{array}\)

Total withdrawal is

₦3,500

₦2,500

₦2,000

₦1,000

View answer & explanation

Correct answer is A

No explanation has been provided for this answer.

37.

Use the following information to answer the question

\(\begin{array}{c|c} & D\\ \hline \text{Construction of classrooms} & 500,000\\ \text{Sinking of boreholes} & 100,000\\ \text{Staff salaries} & 150,000\\ \text{Electricity} & 14,000 \\ \text{Transport and travels} & 7000\\ \text{office expenses} & 9,000 \end{array}\)

Capital expenditure is

D780,000

D750,000

D600,000

D500,000

View answer & explanation

Correct answer is B

No explanation has been provided for this answer.

38.

Use the following information to answer the question

Recurrent expenditure is

D180,000

D164,000

D150,000

D30,000

View answer & explanation

Correct answer is A

No explanation has been provided for this answer.

39.

Henik Plc has departments A and B and has made the following information available concerning its operations; \(\begin{array}{c|c} & \text{Departmental A} & \text{Departmental B} \\ \hline \text{Turn over} & ₦100,00 & ₦80,000\\ \text{Commission} & ₦3,600 & & \\ \text{Rent} & ₦6,000 & & \\ \text{Flor space}& & 200m^2 & 100m^2 \end{array}\)

Rent apportioned to Department B is

₦4,000

₦3,600

₦2,000

₦1,600

View answer & explanation

Correct answer is A

No explanation has been provided for this answer.

40.

How much commission was apportioned to Department a?

₦9,600

₦3,600

₦2,000

₦1,600

View answer & explanation

Correct answer is D

No explanation has been provided for this answer.

Accounting Questions and Answers

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