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Accounts - Principles of Accounts Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1336
Use the following information to answer the question
\(\begin{array}{c|c} \text{Unpresented cheques} & N85,305 \\ \text{Balance as per bank statement} & N206,865 \\ \text{Balance as per cash book} & N144,495\end{array}\)
Uncredited cheques amount to
  • A. N229,800
  • B. N121,560
  • C. N85,305
  • D. N22,935
View Answer & Discuss WAEC 2004
1337
Which of the following terms describes the provision made for the loss in the value of an asset that has a legal life span?
  • A. capitalization
  • B. depreciation
  • C. depletion
  • D. amortization
View Answer & Discuss WAEC 2004
1338
The amount set aside out of profit for a specific purpose is
  • A. provision
  • B. reserve
  • C. depreciation
  • D. depletion
View Answer & Discuss WAEC 2004
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1339
Which of the following is correct about cost of goods sold?
  • A. opening stock + purchases - closing stock
  • B. opening stock + sales + closing stock
  • C. openig stock - purchases - closing stock
  • D. opening stock + sales + closing stock
View Answer & Discuss WAEC 2004
1340
Net debtors is
  • A. debtors less provision for bad debts
  • B. debtors plus provision for bad debts
  • C. debtors less prepayments
  • D. debtors plus prepaments
View Answer & Discuss WAEC 2004
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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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