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.
When bank charges are discovered in a bank statement, the adjustment is effected in the
Bank reconciliation statement
Cash book
Suspense account
Bank loan account
Correct answer is B
No explanation has been provided for this answer.
A debit entry in a fixed asset account represents
An increase in the fixed asset account
A decrease in the fixed asset account
A profit on disposal of the fixed asset
A loss on disposal of the fixed asset
Correct answer is A
No explanation has been provided for this answer.
$90,000
$82,000
$78,000
$70,000
Correct answer is B
No explanation has been provided for this answer.
The net book value of the machine as at 31st December 2017 was
44,000
41,200
39,000
38,760
Correct answer is B
No explanation has been provided for this answer.
2,360
2,280
2,200
1,600
Correct answer is C
No explanation has been provided for this answer.