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Accounts - Principles of Accounts 1996 WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
21
The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. What is the provision for doubtful debts?
  • A. N910
  • B. N650
  • C. N637
  • D. N377
  • E. N260
View Answer & Discuss (1) WAEC 1996
22
The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. Bad debts is
  • A. N910
  • B. N650
  • C. N637
  • D. N377
  • E. N260
View Answer & Discuss WAEC 1996
23
Which of the following are examples of Nominal account?
  • A. land and insurance
  • B. cash and interest
  • C. building and cash
  • D. machinery and wages
  • E. rent and discount
View Answer & Discuss WAEC 1996
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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24
A payment of N150 to a credit
  • A. an increase in assets only
  • B. a reduction of assets only
  • C. a reduction in assets and liabilities
  • D. an increase in assets and liabilities
  • E. a reduction in the bank account
View Answer & Discuss WAEC 1996
25
Which of the following is not charged to Manufacturing Account?
  • A. raw materials
  • B. factory's wages
  • C. Distribution expenses
  • D. royalties
View Answer & Discuss WAEC 1996
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