Join your school's WhatsApp group
NECO offline past questions - All questions, answers & explanations in one app 25712

Accounts - Principles of Accounts 2023 WAEC Past Questions

Clear Selections
Change Subject Post a Question Check Syllabus Study My Bookmarks Past Questions Videos Watch Video Lessons Download App

Join your school's WhatsApp group
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
NECO offline past questions - All questions, answers & explanations in one app 25712
46

Use the following information to answer the question

Taurus Ltd was incorporated with the legal right to issue five million ordinary shares. The company has issued three million of the shares at GH⊄ 0.60 per share. To date, the company has made calls of GH⊄ 0.40 per share. All calls have been paid by shareholders except for GH⊄ 100,000 owing from one shareholder.

The paid up share capital is

  • A. GH⊄ 300,000
  • B. GH⊄ 250,000
  • C. GH⊄ 500,000
  • D. GH⊄ 600,000
View Answer & Discuss WAEC 2023
47

Use the following information to answer the question

Taurus Ltd was incorporated with the legal right to issue five million ordinary shares. The company has issued three million of the shares at GH⊄ 0.60 per share. To date, the company has made calls of GH⊄ 0.40 per share. All calls have been paid by shareholders except for GH⊄ 100,000 owing from one shareholder.
The authorized number of shares is

  • A. 3,000,000
  • B. 8,000,000
  • C. 5,000,000
  • D. 100,000
View Answer & Discuss WAEC 2023
48

Which of the following rules is applicable in the absence of a partnership agreement? Interest is payable

  • A. on drawings at the rate of 5% per annum
  • B. on any contribution in excess of agreed capital at 5% per annum
  • C. at 5% per annum on the current account balances
  • D. on agreed capital contributed at 5% per annum
View Answer & Discuss WAEC 2023
Join your school's WhatsApp group
NECO offline past questions - All questions, answers & explanations in one app 25712
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
49

The two column cash book records

  • A. all receipts in cash only and payments by cheque
  • B. receipts and payments in cash only
  • C. all receipts and payments both in cash and by cheque
  • D. receipts and payments by cheque only
View Answer & Discuss WAEC 2023
50

A crane hired by a building construction company would be classified as

  • A. a financial cost
  • B. an administration cost
  • C. a direct manufacturing cost
  • D. an overhead cost
View Answer & Discuss WAEC 2023
Start a Free Practice Test
 
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709