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 claim on the assets of a business by outsiders is
Capital
Liabilities
Reserves
Provisions
Correct answer is B
No explanation has been provided for this answer.
Customers use the financial position of a company to
Assess the financial position of the business
Regulate their activities
Ascertain the taxable profit of the business
Be sure of the extent of job security
Correct answer is A
No explanation has been provided for this answer.
A method of charging depreciation at a fixed percentage of the net book value is
Straight line method
Reducing balance method
Sum of the years' digits method
Revaluation method
Correct answer is B
No explanation has been provided for this answer.
The document which contains the internal regulations of a limited liability company is the
Certificate of Incorporation
Prospectus
Article of Association
Memorandum of Association
Correct answer is C
No explanation has been provided for this answer.
The excess of net assets acquired over purchase consideration is
Capital reserve
Goodwill
Purchase price
Discount
Correct answer is A
No explanation has been provided for this answer.