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Accounts - Principles of Accounts 2000 WAEC Past Questions

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31
A motor vehicle bought for N16,000 was estimated to have a useful life span of 4 years and a scrap of N2,000. If the vehicle is sold for N6,000 at the end of third year, what is the profit or loss on sale?
  • A. N1,000 profit
  • B. N500 profit
  • C. N500 loss
  • D. N1,000 loss
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32
Which of the following is not an example of input device?
  • A. card reader
  • B. keyboard
  • C. visual display unit
  • D. central processing unit
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33
The double entry for increasing provision for bad debt is debit
  • A. debtor's account, credit provision for bad debt account
  • B. profit and loss account, credit debtor's account
  • C. debtor's account, credit profit and loss acount
  • D. profit and loss account, credit provision for bad debt account
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34
Bills receivable is a
  • A. current liability
  • B. current asset
  • C. long-term liability
  • D. fictitious asset
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35
How much did Olu sell goods bought at N1,000 if he sells at a margin of 20% on selling price?
  • A. N1,250
  • B. N1,200
  • C. N1,000
  • D. N250
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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