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Accounts - Principles of Accounts 2012 WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
11

Capital receipt is collected

  • A. on sales of motor vehicle
  • B. on sales of stock in trade
  • C. from trade debtors
  • D. from trading activities
View Answer & Discuss WAEC 2012
12

Which of the following is an example of factory overheads?

  • A. salary of marketing officer
  • B. salary of production officer
  • C. salary of accounting officer
  • D. wages of machine operator
View Answer & Discuss (3) WAEC 2012
13

Osa started business with Le 40,000 cash. The accounting entry is debit

  • A. cash account; credit capital account
  • B. capital account; credit cash account
  • C. purchases account; credit cash account
  • D. expenses account; credit capital account
View Answer & Discuss (1) WAEC 2012
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14

Branch stock account is used to determine the

  • A. net value of goods sent to branch
  • B. gross profit of the branch
  • C. branch credit sales
  • D. branch net profit or loss
View Answer & Discuss (1) WAEC 2012
15
The name given to a budget in public service accounting is
  • A. vote
  • B. subvention
  • C. general order
  • D. estimate
View Answer & Discuss WAEC 2012
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