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Accounts - Principles of Accounts 2010 WAEC Past Questions

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36

Which of the following reserves is not used for bonus shares?

  • A. revolutional reserve
  • B. share premium
  • C. capital redemption reserve fund?
  • D. general reserve
View Answer & Discuss WAEC 2010
37

When shares are sold 'at par' it means they are issued at

  • A. the market value
  • B. the nominal value
  • C. a discount
  • D. a premium
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38

Which of the following does not form part of shareholders fund?

  • A. ordinary shares
  • B. shares premium
  • C. profit
  • D. debenture
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39
On 1/7/07, a trader owed wages of Le 2,000. During the year ended 30/6/08, wages of Le, 2,400 were owed and Le 8,000 were paid. Using the information, the wages recorded in the balance sheet as at 30/6/08 is
  • A. Le 2,400
  • B. Le 8,400
  • C. Le 8,000
  • D. Le 7,600
View Answer & Discuss (1) WAEC 2010
40

The collection and organization of data is

  • A. accounting process
  • B. central processing
  • C. data processing
  • D. data manipulation
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