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Accounts - Principles of Accounts 2009 WAEC Past Questions

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36
Which of the following are Personal Accounts? i. wages ii. debtors ii. creditors iv. buildings
  • A. i,ii and iii only
  • B. ii and iii only
  • C. ii and iv only
  • D. iii and iv only
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37
Prepayment is treated in the balance sheet of firm as a
  • A. fixed asset
  • B. long-term liability
  • C. current asset
  • D. current liability
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38
Which of the following is found in a Sales Ledger Account?
  • A. credit purchases
  • B. bill payable
  • C. discount received
  • D. discount allowed
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39
The authority of the Accountant-General to disburse from government fund is
  • A. provision
  • B. warrant
  • C. vote
  • D. estimate
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40
Use the following information to answer the given question
\(\begin{array}{c|c} & Dr & Dr & \text{Balance}\\ \hline & ₦ & ₦ & ₦ \\ \text{2/1/06 Balance b/d} & & & 2,000 \\ \text{3/1/06 '23456'} & 500 & & 1,500\\ \text{4/1/06 Deposit} & & 1,000 & 2,500\\ \text{5/1/06 Deposit} & & 1500 & 4,000\\ \text{6/1/06 '23457'} & 3,000 & & 1,000\end{array}\)
Total withdrawal is
  • A. ₦3,500
  • B. ₦2,500
  • C. ₦2,000
  • D. ₦1,000
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