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76

Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Recurrent expenditure is

  • A. N390,000
  • B. N360,000
  • C. N350,000
  • D. N170,000
View Answer & Discuss (2) JAMB 1995
77
A government accounting systems must make sure that
  • A. revenue exceeds expenditure
  • B. all applicable legal provisions are complied with
  • C. capital expenditure is equal to revenue
  • D. capital project fund is tied to recurrent expenditure
View Answer & Discuss JAMB 1995
78
The most important reason for studying accounting is that
  • A. the information provided by accounting is useful in making decision
  • B. Accounting plays an important role in the society
  • C. the study of Accounting leads to challeging career
  • D. Accounting provides gross profit information
View Answer & Discuss (1) JAMB 1997
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
79
In preparing accounting records, the owner of a business and the business are treated as
  • A. the same person
  • B. having business relationship
  • C. separate legal entities
  • D. partners
View Answer & Discuss JAMB 1997
80
Creditors use Accounting information for the purpose of
  • A. planning sales to a company
  • B. controlling a company's affairs
  • C. investing in a company
  • D. assessing a company's liquidity
View Answer & Discuss JAMB 1997
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709