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Accounts - Principles of Accounts 2005 WAEC Past Questions

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46
The part of the C.P.U used for the processing of data is
  • A. Monoru unit
  • B. arithmetic and logic unit
  • C. output unit
  • D. input unit
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47
Resources consumed but to be paid for within the next accounting period are classified in the balance sheet as
  • A. current liabilities
  • B. current assets
  • C. long-term liabilities
  • D. capital
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48
Where a proprietor withdraws stock for personal consumption, the accounting entries to record the transaction are
  • A. debit drawings account, credit purchases account
  • B. debit purchases account, credit sales account
  • C. debit sales avvount, credit drawings account
  • D. debit drawings account, credit sales account
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49
Where there is a loss on disposal of a fixed asset, it means
  • A. depreciation has been underestimated
  • B. depreciation has been overestimated
  • C. scrap value has not been estimated
  • D. depreciation method used is inappropriate
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