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Accounts - Principles of Accounts 1994 WAEC Past Questions

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6
Cash discount is given for
  • A. buying in large quantity
  • B. prompt settlement of account
  • C. being a regular customer
  • D. introducing other customers
  • E. sales returns
View Answer & Discuss WAEC 1994
7
Cash discount is given for
  • A. buying in large quantity
  • B. prompt settlement of account
  • C. being a cash reqular customer
  • D. introducing other customers
  • E. sales returns
View Answer & Discuss WAEC 1994
8
Where there is no partnership agreement, any contribution in excess of the agree capital attracts
  • A. no interest at all
  • B. interest at the rate of 2\(\frac{1}{2}\)% per annum
  • C. interest at the rate 5% per anuum
  • D. interest at all
  • E. interest at the per annum
View Answer & Discuss WAEC 1994
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9
Which of he following is a current asset item?
  • A. goodwill
  • B. overdraft
  • C. preliminary expenses
  • D. prepayments
  • E. outstanding expense
View Answer & Discuss WAEC 1994
10
Which of the following is a Real account item?
  • A. wages and salaries account
  • B. machinery account
  • C. capital account
  • D. drawings account
  • E. alagja and sons account
View Answer & Discuss WAEC 1994
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