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Accounts - Principles of Accounts 1991 WAEC Past Questions

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1
When shares are oversubscribed, the promoter nay decide to scale down the number of shareholding when this is done, the shares are being
  • A. forfrited
  • B. issued at a discount
  • C. issued on prorata
  • D. issued at par
  • E. issued at a premium
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2
Preliminary expenses of a limited liability company are
  • A. fixed assets
  • B. current assests
  • C. fictitious assets
  • D. fictitious liability
  • E. current liability
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3
In government imprest system the amount reimbursed is the
  • A. actual amount spent
  • B. amount of the float
  • C. amount spent above the float
  • D. balance of the float
  • E. sum of unreceipted vouchers
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4
Reccurrent expenditure of government is paid from
  • A. reserved fund
  • B. consolidated revenue fund
  • C. development fund
  • D. contigencies fund
  • E. personal fund
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5
Which of the following is related to debtors account?
  • A. purchases ledger
  • B. general ledger
  • C. norminal lesger
  • D. sales ledger
  • E. private ledger
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