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Accounts - Principles of Accounts Past Questions

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1596
Which of the following is the memory part that is available for use by the computer user?
  • A. bits
  • B. Ram
  • C. Data
  • D. ROM
View Answer & Discuss WAEC 1999
1597
In-not-profit-making organizations, accumulated fund is the name for
  • A. profit
  • B. loss
  • C. capital
  • D. current assets
View Answer & Discuss (1) WAEC 1999
1598
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is chike's share of profit from the partnership for the year ended 31/3/99 ?
  • A. N8,500
  • B. N7,000
  • C. N5,500
  • D. N4,500
View Answer & Discuss WAEC 1999
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1599
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is Balla's Current Account balance as at 31/3/99?
  • A. N11,000
  • B. N7,000
  • C. N5,500
  • D. N4,500
View Answer & Discuss WAEC 1999
1600
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
Their profit sharing ratio is
  • A. 1 : 8 : 1
  • B. 1 : 5 : 1
  • C. 1 : 25 : 1
  • D. 1 : 1
View Answer & Discuss WAEC 1999
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