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Accounts - Principles of Accounts 1998 WAEC Past Questions

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1
Which of the following is the least liquid?
  • A. stock
  • B. debtors
  • C. bills receivable
  • D. payment machinery
View Answer & Discuss WAEC 1998
2
Opening stock + Purchases + carriage inwards is equal to
  • A. total sales
  • B. cost of goods sold
  • C. cost of goods available for sale
  • D. gross profit
  • E. prime cost
View Answer & Discuss WAEC 1998
3
Which of the following is a source of the local government Revenue?
  • A. personal income tax
  • B. sales of armed forces property
  • C. repayment (state)
  • D. repayment (Interest and General)
  • E. market rates
View Answer & Discuss WAEC 1998
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4
The accountant general disburses government fund by the use of
  • A. a voucher
  • B. a warrant
  • C. an estimate
  • D. a vote
  • E. aa provision
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5
Carriage inwards are included on goods
  • A. on display
  • B. sold
  • C. in process
  • D. purchases
  • E. on return
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