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Accounts - Principles of Accounts Past Questions

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1026
The process of recording financial transactions of government is
  • A. management accounting
  • B. financial accounting
  • C. cost accounting
  • D. public sector accounting
View Answer & Discuss WAEC 2011
1027
The bank statement shows a debit balance of Le 475. After the entry of an uncredited of Le Le 800, the new balance is
  • A. Le 325 overdraft
  • B. Le 325
  • C. Le 1,275
  • D. Le 1,275 overdraft
View Answer & Discuss (1) WAEC 2011
1028
The business entity concept
  • A. seperates the owner's transactions from the business transactions
  • B. records transactions outside the business
  • C. does not seperate the owner's trasactions from the business transactions
  • D. involves other business transactions
View Answer & Discuss WAEC 2011
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1029
Which of the following is not used in Public accounting?
  • A. cash book
  • B. trial balance
  • C. profit and loss account
  • D. bank reconciliation statement
View Answer & Discuss WAEC 2011
1030
The concept which states that assets are not to be recorded at their current market value is
  • A. money measuremen
  • B. materiality
  • C. cost
  • D. entity
View Answer & Discuss WAEC 2011
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