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Accounts - Principles of Accounts 2001 WAEC Past Questions

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51
Which of the following is not an intangible asset?
  • A. Liancence
  • B. patents
  • C. trademarks
  • D. fixtures
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52
Which of the following is a capital expenditure?
  • A. salaries and wages
  • B. stationery
  • C. repairs of motor vehicle
  • D. purchase of furniture
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53
Sale of goods for N600 to Ade was not posted, This is an error of
  • A. omission
  • B. commission
  • C. principle
  • D. compensation
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54
Shares sold at the nominal value are issued at
  • A. a discount
  • B. a premium
  • C. a loss
  • D. par
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55
The excess of current assets over current liabilities is
  • A. authourised share capital
  • B. working capital work
  • C. loan capital
  • D. called-up capital
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