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1636
Use the following information to answer the given questions
\(\begin{array}{c|c} & N \\ \hline Debtors & 30,000 \\ Creditor & 20,000 \\ \text{Opening stock} & 15,000 \\ \text{Closing stock} & 18,000\\ Wages & 3,000 \\ Salaries & 10,000 \\ Purchases & 30,000 \\ Sales & 60,000\end{array}\)
The working capital is
  • A. 48,000
  • B. N33,000
  • C. N28,000
  • D. N25,000
  • E. N10,000
View Answer & Discuss (1) WAEC 1998
1637
Use the following information to answer the given questions
\(\begin{array}{c|c} & N \\ \hline Debtors & 30,000 \\ Creditor & 20,000 \\ \text{Opening stock} & 15,000 \\ \text{Closing stock} & 18,000\\ Wages & 3,000 \\ Salaries & 10,000 \\ Purchases & 30,000 \\ Sales & 60,000\end{array}\)
The stock turnover is
  • A. 4.0 times
  • B. 3.6 times
  • C. 3.3 times
  • D. 2.0 times
  • E. 1.8 times
View Answer & Discuss WAEC 1998
1638
Which of the following is n asset?
  • A. bad debt provision
  • B. rent in arrears
  • C. sales
  • D. accrued wages
  • E. insurance prepaid
View Answer & Discuss WAEC 1998
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1639
A balance sheet is prepared
  • A. for the year ended...........19 x 1
  • B. for............19 x 1
  • C. as to.............19 x 1
  • D. in the year..............19 x 1
  • E. up to...........19 x 1
View Answer & Discuss WAEC 1998
1640
Which of the following is not a Nominal Account?
  • A. electricity account
  • B. furnitures and fittings account
  • C. postages and telephone account
  • D. insurance account
  • E. discount allowed account
View Answer & Discuss WAEC 1998
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