Accounts - Principles of Accounts 1999 WAEC Past Questions

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The total share capital which a company would be allowed to issue is known as

A. issued share capital
B. authorised share capital
C. working capital
D. fixed capital

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Creditors at start was N4,650 and at close N2,480, cash paid to suppliers during the year amounted to N12,000. Credit purchases for the year is valued at

A. N14,480
B. N12,000
C. N9,830
D. N7,130

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A sale of goods to audu was not posted. This is an error of

A. omission
B. compensation
C. commission
D. principle

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Into how many major types can general purpose computers be classified?

A. six
B. five
C. four
D. three

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Which of the following is nit a petty cash book item? purchase of

A. machinery
B. stamps
C. office pins
D. milk

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Accounts - Principles of Accounts 1999 WAEC Past Questions

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