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.
N29,500
N26,000
N25,500
N24,000
Correct answer is B
Sales = Sales ledger balance at the beginning + Cheque received from customers
2000 + 24000 = 26,000
Income received in advance is treated in the balance sheet as a
Current liability
Current asset
Long-term liability
Fixed asset
Correct answer is A
No explanation has been provided for this answer.
N112,500
N105,000
N97,500
N37,500
Correct answer is A
No explanation has been provided for this answer.
The internal users of accounting information are the
Creditors
Employees
Investors
Customers
Correct answer is B
No explanation has been provided for this answer.
The accounting equation of a business shows the
Current assets and current liabilities only
Difference between current assets and liabilities
Assets and the sources of financing them
Owner's interest in the business only
Correct answer is C
No explanation has been provided for this answer.