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Accounts - Principles of Accounts 2012 WAEC Past Questions

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31
Which of the following errors affects the agreement of a Trial balance?
  • A. wrong addition in the sales account
  • B. crediting a purchase to the sales account
  • C. failure to enter sales in the books
  • D. posting the purchase of a van to the debit side of the purhases account
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32

The excess of value of assets over the purchase consideration on acquisition of a business is credited to

  • A. share capital account
  • B. goodwill account
  • C. capital reserved account
  • D. general reverse account
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33

Which of the following is not the purpose of a control account?

  • A. check on errors of addition
  • B. locate errors
  • C. locate missing figures
  • D. monitor the cash book
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34

Which of the following is not part of the central processing unit of a computer?

  • A. arithmetical and lgical unit
  • B. memory unit
  • C. input unit
  • D. control unit
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35

The double entry to record the proceeds on disposal of assets in debit

  • A. bank account; credit asset disposal account
  • B. asset disposal account; credit bank account
  • C. provision for depreciation account; credit asset disposal account
  • D. asset disposal account; credit provision for depreciation account
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