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1471
A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares account to 31st December. How much is carried in the Balance Sheet at 31st December, 2000?
  • A. N45,000
  • B. N12,000
  • C. N9,000
  • D. N4,500
View Answer & Discuss WAEC 2002
1472
A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares account to 31st December. The amount carried in the Balance sheet is classified as
  • A. current asset
  • B. current liability
  • C. capital
  • D. long-term liability
View Answer & Discuss WAEC 2002
1473
The total amount of money set aside for a particular purpose by government is
  • A. fund
  • B. vote
  • C. virement
  • D. budget
View Answer & Discuss WAEC 2002
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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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1474
"Accountants do not count chickens before they are climbed". This is the concept of
  • A. accrual
  • B. materiality
  • C. realisation
  • D. going-concern
View Answer & Discuss WAEC 2002
1475
Subscriptions in arrears is treated in the balance sheet of a club as
  • A. current liability
  • B. intangible assets
  • C. fictitious asset
  • D. current asset
View Answer & Discuss WAEC 2002
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