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Accounts - Principles of Accounts 2022 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
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26

The document prepared by the buyer and sent to the seller listing the items to be supplied is

  • A. purchase order
  • B. credit note
  • C. proforma invoice
  • D. sales order
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27

Use the following information to answer questions below

Teteh and Kukuma are in partnership with capital balances of #300,000 and #200,000 respectively. They agreed to share profit on the basis of their capital. The profit for the year is #150,000 and the interest on capital is 5%.
 



Teteh's share of profit is

  • A. #60,000
  • B. #90,000
  • C. #75,000
  • D. #50,000
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28

Use the following information to answer questions below

Teteh and Kukuma are in partnership with capital balances of #300,000 and #200,000 respectively. They agreed to share profit on the basis of their capital. The profit for the year is #150,000 and the interest on capital is 5%.
 



Kukuma's current account balance is

  • A. #50,000
  • B. #70,000
  • C. #90,000
  • D. #60,000
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29

Use the following information to answer questions below

Teteh and Kukuma are in partnership with capital balances of #300,000 and #200,000 respectively. They agreed to share profit on the basis of their capital. The profit for the year is #150,000 and the interest on capital is 5%.
 



Teteh's share of interest on capital is

  • A. #15,000
  • B. #25,000
  • C. #10,000
  • D. #75,000
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30

The maximum amount a company can raise through the issue of shares is

  • A. paid-up capital
  • B. authorized capital
  • C. reserve capital
  • D. loan capital
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts