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Accounts - Principles of Accounts Past Questions

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986
The two fundamental books of accounting are
  • A. return inwards and outwards
  • B. journal and ledger
  • C. discounts allowed and received
  • D. credit note and debit note
View Answer & Discuss WAEC 2011
987
Which of the following is a capital expenditure?
  • A. extension of building
  • B. repairs of generator
  • C. purchase of stock
  • D. purchase of stationery
View Answer & Discuss WAEC 2011
988
Expenses accured at the end of the accounting year is treated in the balance sheets as
  • A. current assets
  • B. current liability
  • C. ficed assets
  • D. long-term liability
View Answer & Discuss WAEC 2011
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989
Another name for owner's equity is
  • A. loan
  • B. debtots
  • C. capital
  • D. overdraft
View Answer & Discuss WAEC 2011
990
The reduction in value of goodwill is
  • A. amortization
  • B. appreciation
  • C. depletion
  • D. depreciation
View Answer & Discuss WAEC 2011
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