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Accounts - Principles of Accounts 2017 WAEC Past Questions

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31

Use the following information to answer the question below

Sales ledger balances 01/06/12------ 9,000
30/06/12------------------------------------30,000
Total for the month: Cash sales----- 10,000
Returns inwards --------------------------3,000
Cheque dishonoured-------------------- 4,000

The total sales for the month is?

  • A. 36,000
  • B. 31,000
  • C. 30,000
  • D. 10,000
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32

Use the following information to answer the question below

Sales ledger balances 01/06/12------ 9,000
30/06/12------------------------------------30,000
Total for the month: Cash sales----- 10,000
Returns inwards --------------------------3,000
Cheque dishonoured-------------------- 4,000

The credit sales for the month is?

  • A. 36,000
  • B. 31,000
  • C. 20,000
  • D. 30,000
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33

The excess of the market value of goods produced over the cost of production is 

  • A. profit on manufacturing
  • B. net profit
  • C. goodwill
  • D. gross profit
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34

Factory wages from part of 

  • A. administration cost
  • B. selling and distribution cost
  • C. overhead cost
  • D. prime cost
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35

The production cost of a manufacturing firm is made up of 

  • A. indirect materials
  • B. factory overheads and prime cost
  • C. direct materials and wages
  • D. factory overheads and directs materials
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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