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Accounts - Principles of Accounts Past Questions

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1221
The maximum amount which a company is allowed to raise through the sale of shares is
  • A. authorized capital
  • B. paid-up capital
  • C. issued capital
  • D. working capital
View Answer & Discuss WAEC 2007
1222
The double entry in the books to write off goodwill is
  • A. debit Goodwill account, credit capital account
  • B. debit Goodwill account, credit revaluation account
  • C. debit profit and loss appropriation account, credit Goodwill account
  • D. debit Trading account, credit Goodwill account
View Answer & Discuss WAEC 2007
1223
Holder of ordinary shares do not have the right to
  • A. participate in additional issue of shares
  • B. vote at annual general meetings
  • C. elect the board of directors
  • D. receive dividends at a predetermined rate
View Answer & Discuss WAEC 2007
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1224
Which of the following is not a real account?
  • A. building account
  • B. motor vehicle account
  • C. patents account
  • D. furniture account
View Answer & Discuss WAEC 2007
1225
An example of capital gain s
  • A. premium
  • B. bonus
  • C. shares
  • D. debenture
View Answer & Discuss WAEC 2007
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