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Accounts - Principles of Accounts 1998 WAEC Past Questions

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11
A balance sheet is prepared
  • A. for the year ended...........19 x 1
  • B. for............19 x 1
  • C. as to.............19 x 1
  • D. in the year..............19 x 1
  • E. up to...........19 x 1
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12
Which of the following is not a Nominal Account?
  • A. electricity account
  • B. furnitures and fittings account
  • C. postages and telephone account
  • D. insurance account
  • E. discount allowed account
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13
Partners salary is shown in the
  • A. trading account
  • B. profit and loss account
  • C. income and expenditure
  • D. profit and loss appropriation account
  • E. partner's capital account
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14
Which of the following is the personal ledger?
  • A. assets account
  • B. discount allowed account
  • C. sales account
  • D. discount received account
  • E. debtors account
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15
Which of the following has a debit balance? i. calls-in-arrears ii. cash-in-advance iii. share discount
  • A. i
  • B. ii
  • C. iii
  • D. ii and iii
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