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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
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1556
use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock:} & \\ \text{- raw materials} & 6,500 \\ \text{-work-in-progress} & 2,500 \\ \text{Closing Stock:} & \\ \text{- raw materials} & 4,000 \\ \text{-work-in-progress} & 1,000 \\ \text{Purchases of raw materials} & 12,500 \\ \text{Manufacturing wages} & 2,000 \\ \text{Factory rent} & 500\end{array}\)
What is the cost of production?
  • A. N19,000
  • B. N18,500
  • C. N15,000
  • D. N12,500
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1557
use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock:} & \\ \text{- raw materials} & 6,500 \\ \text{-work-in-progress} & 2,500 \\ \text{Closing Stock:} & \\ \text{- raw materials} & 4,000 \\ \text{-work-in-progress} & 1,000 \\ \text{Purchases of raw materials} & 12,500 \\ \text{Manufacturing wages} & 2,000 \\ \text{Factory rent} & 500\end{array}\)
What is the prime cos?
  • A. N19,000
  • B. N18,000
  • C. N17,500
  • D. N17,000
View Answer & Discuss WAEC 2000
1558
The vote book in Public Sector Accounting is used to
  • A. register the names of voters
  • B. control expenditure
  • C. control government policy
  • D. record revenue accuring to the government
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1559
The accounting entry for depreciation at the end of each year is to debit
  • A. provision for depreciation account and credit machinery account
  • B. provision for depreciation account and credit profit and loss account
  • C. trading account abd credit provision for depresiation account
  • D. manufacturing account and credit provision for depreciation account
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1560
An account is said to have a debit balance because
  • A. the first entry made in it is on its debit side
  • B. there aer more entries on the debit side than on the credit side
  • C. total value of debit entries is more than total value of credit entries
  • D. there is no entry at all on the dbit side
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts