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Accounts - Principles of Accounts 1998 WAEC Past Questions

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31
Which of the following is a recurrent expenditure to a Local Government Council?
  • A. building classroom
  • B. sinking of wells
  • C. purchase of drugs
  • D. construction of markets
  • E. purchase of hospital beds
View Answer & Discuss WAEC 1998
32
Which of the following is an example of production overhead?
  • A. discount allowed
  • B. carried inwards
  • C. factory rent
  • D. carriage outwards
  • E. depreciation of office equipment
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33
The double entries for refund of unsuccessful application monies are, debit
  • A. application for shares account, credit bank account
  • B. bank account, credit application for shares account
  • C. allotment account, credit application for shares account
  • D. allotment account, credit bank account
  • E. cash account, credit bank account
View Answer & Discuss WAEC 1998
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34
Rent paid during 1995 was N2,000 while rent paid at 31st December, 1995 was
  • A. N2,400
  • B. N2,200
  • C. N2,000
  • D. N1,800
  • E. N200
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35
When a share is sold for less than its nominal value, the difference is debited to
  • A. share premium account
  • B. share discount account
  • C. profit and loss account
  • D. capital reserve account
  • E. general reserve account
View Answer & Discuss WAEC 1998
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