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Accounts - Principles of Accounts 2007 WAEC Past Questions

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46
The double entry in the books to write off goodwill is
  • A. debit Goodwill account, credit capital account
  • B. debit Goodwill account, credit revaluation account
  • C. debit profit and loss appropriation account, credit Goodwill account
  • D. debit Trading account, credit Goodwill account
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47
Holder of ordinary shares do not have the right to
  • A. participate in additional issue of shares
  • B. vote at annual general meetings
  • C. elect the board of directors
  • D. receive dividends at a predetermined rate
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48
Which of the following is not a real account?
  • A. building account
  • B. motor vehicle account
  • C. patents account
  • D. furniture account
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49
An example of capital gain s
  • A. premium
  • B. bonus
  • C. shares
  • D. debenture
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50
Which of the following attracts a fixed rate of dividend?
  • A. ordinary shares
  • B. founder's shares
  • C. preference shares
  • D. defferred shares
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