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.
Credited to suspense account
Debited to suspense account
Credited to Profit and Loss Account
Debited to Profit and Loss Account
Correct answer is B
No explanation has been provided for this answer.
Periodicity concept
Consistency concept
Going concern concept
Historical cost concept
Correct answer is B
No explanation has been provided for this answer.
An example of a real account is
Computer Repairs Account
Computer Insurance Account
Office Computer Account
Depreciation of Computer Account
Correct answer is C
No explanation has been provided for this answer.
An active partner
A limited partner
A nominal partner
A sleeping partner
Correct answer is D
No explanation has been provided for this answer.
Doe and Sons Limited would enter the 3% discount in the
Sales journal
Cash book
Purchases journal
Journal proper
Correct answer is C
No explanation has been provided for this answer.