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Accounts - Principles of Accounts 2023 WAEC Past Questions

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36

The concept which underlines double entry bookkeeping is

  • A. money measurement concept
  • B. historical cost concept
  • C. accrual concept
  • D. duality concept
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37

Wages of machine operators in manufacturing account are treated as

  • A. indirect expenses
  • B. direct expenses
  • C. direct labour
  • D. indirect labour
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38

The error that affects the agreement of a trial balance totals is

  • A. error of commission
  • B. undercasting
  • C. compensating error
  • D. error of principle
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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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39

Which of the following items is found in the profit and loss account of a company?

  • A. Proposed dividends
  • B. Transfer to general reserves
  • C. Director's remuneration
  • D. Proceeds from issue of shares
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40

Carriage inwards on raw materials is recorded in the

  • A. balance sheet
  • B. profit and loss account
  • C. trading account
  • D. manufacturing account
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