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Accounts - Principles of Accounts 2023 WAEC Past Questions

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21

In the final account of a limited liability company, debenture interest paid is recorded in the

  • A. capital account
  • B. profit and loss account
  • C. trading account
  • D. current account
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22

Suppliers' personal account are found in the

  • A. private ledger
  • B. nominal ledger
  • C. purchases ledger
  • D. sales ledger
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23

One of the internal users of accounting information is the

  • A. management
  • B. government
  • C. creditors
  • D. investors
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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
24

The accounting concept which is the basis upon which assets of a business are valued is the

  • A. dual aspect concept
  • B. consistency concept
  • C. accrual concept
  • D. historical concept
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25

Profit distributed to ordinary shareholders of a limited liability company is

  • A. dividend
  • B. interest
  • C. surplus
  • D. reserve
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts