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.
An effect of increase in the provision for depreciation is
Decrease in gross profit
Increase in net profit
Increase in gross profit
Decrease in net profit
Correct answer is C
No explanation has been provided for this answer.
The partner whose liability goes beyond his capital is a
Nominal partner
General partner
Limited partner
Dormant partner
Correct answer is B
No explanation has been provided for this answer.
i only
ii only
i and ii only
i and iii only
Correct answer is D
No explanation has been provided for this answer.
Debtors Control Account is kept in the
Sales ledger
Nominal ledger
Personal ledger
General ledger
Correct answer is A
No explanation has been provided for this answer.
Interest on drawings amounted to
6,000
1,500
900
600
Correct answer is B
No explanation has been provided for this answer.