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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
21

Which of the following is not an input device?

  • A. card reader
  • B. paper top reader
  • C. alpha-numeric keyboard
  • D. line partnership
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22

The equivalent of income and expenditure account in a trading concern is

  • A. trading account
  • B. profit and loss account
  • C. appropriation account
  • D. balance sheet
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23

The term used to denote the capital of a not-for-profit making organization is

  • A. annuity fund
  • B. nominal capital
  • C. circulating capital
  • D. accumulated fund
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24

The portion of authorized capital that has been allotted to subscribers

  • A. called up capital
  • B. paid up capital
  • C. issued capital
  • D. nominal capital
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25

Partners whose liabilities are restricted to their financial contribution to the partnership in the event of winding up are

  • A. ordinary partners
  • B. limited partners
  • C. dormant partners
  • D. sleeping partners
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