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Accounts - Principles of Accounts 2016 WAEC Past Questions

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1

External users of accounting information include

  • A. employees
  • B. management
  • C. banks
  • D. directors
View Answer & Discuss (1) WAEC 2016
2

Every asset should have

  • A. a non-monetary value
  • B. tangible and intangible qualities
  • C. monetary cost and future benefit
  • D. an inadequate monetary value
View Answer & Discuss (3) WAEC 2016
3

Which of the following are impersonal accounts ?
I. Investment
II. Creditors
III. Premises
IV. Debtors
V. Salaries

  • A. I, III and IV
  • B. I, III and V
  • C. II and IV
  • D. III and V
View Answer & Discuss WAEC 2016
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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4

Nwoye buys stock and pays by cheque. The entries in the books of Nwoye is Debit

  • A. Purchases; Credit cheque
  • B. Purchases; Credit bank
  • C. Bank; Credit Purchases
  • D. Cheque; Credit Purchases
View Answer & Discuss (1) WAEC 2016
5

Which of the following errors are errors of commission?
I. A cheque paid to Adam debited to Adam's account.
II. Credit sales to Eva credited to sales account but debited to Eve's account.
III. Furniture repairs debited to furniture account.
IV. Credit purchases from Manu credited to Manu's account.

  • A. I and II
  • B. I and IV
  • C. II and IV
  • D. III and IV
View Answer & Discuss (2) WAEC 2016
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208