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Accounts - Principles of Accounts 2008 WAEC Past Questions

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36
An approach for discovering missing figures in incomplete records is the use of
  • A. cash book
  • B. control accounts
  • C. trading accounts
  • D. balance sheets
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37
A merchant paid ₦180,000 on rent for 18 months bu charged ₦120,000 to profit and loss account for the year. The concept applied is
  • A. business entity
  • B. going concern
  • C. accrual
  • D. materiality
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38
Which of the following is an advantage of the imprest system?
  • A. rewarding the imprest holder
  • B. reducing the burden of petty cashier
  • C. rreimbursting the petty cashier regularly
  • D. reducing the posting for small expenses into the main ledger
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39
Henik Plc has departments A and B and has made the following information available concerning its operations;
\(\begin{array}{c|c} & \text{Departmental A} & \text{Departmental B} \\ \hline \text{Turn over} & ₦100,00 & ₦80,000\\ \text{Commission} & ₦3,600 & & \\ \text{Rent} & ₦6,000 & & \\ \text{Flor space} & & 200m^2 & 100m^2 \end{array}\)
How much commission was apportioned to Department a?
  • A. ₦9,600
  • B. ₦3,600
  • C. ₦2,000
  • D. ₦1,600
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40
Henik Plc has departments A and B and has made the following information available concerning its operations;
\(\begin{array}{c|c} & \text{Departmental A} & \text{Departmental B} \\ \hline \text{Turn over} & ₦100,00 & ₦80,000\\ \text{Commission} & ₦3,600 & & \\ \text{Rent} & ₦6,000 & & \\ \text{Flor space}& & 200m^2 & 100m^2 \end{array}\)
Rent apportioned to Department B is
  • A. ₦4,000
  • B. ₦3,600
  • C. ₦2,000
  • D. ₦1,600
View Answer & Discuss WAEC 2008
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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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