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Accounts - Principles of Accounts Past Questions

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1656
Which of the following cannot be realized?
  • A. debtors
  • B. creditors
  • C. fixtures
  • D. goodwill
  • E. motor vehicles
View Answer & Discuss WAEC 1998
1657
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Construction of classrooms} & 500,000\\ \text{Purchase of tablets and chairs} & 50,000 \\ \text{Purchase of textbooks for library} & 40,000 \\ \text{Annual inter-house sports competition} & 20,000 \\ \text{Payment of teachers salary} & 80,000
\end{array}\)
Capital expenditure for the year was
  • A. N690,000
  • B. N590,000
  • C. N500,000
  • D. N140,000
View Answer & Discuss WAEC 1998
1658
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Construction of classrooms} & 500,000\\ \text{Purchase of tablets and chairs} & 50,000 \\ \text{Purchase of textbooks for library} & 40,000 \\ \text{Annual inter-house sports competition} & 20,000 \\ \text{Payment of teachers salary} & 80,000
\end{array}\)
Recurrent expenditure of the year was
  • A. N170,000
  • B. N130,000
  • C. N120,000
  • D. N100,000
  • E. N80,000
View Answer & Discuss WAEC 1998
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1659
Which of the following is a recurrent expenditure to a Local Government Council?
  • A. building classroom
  • B. sinking of wells
  • C. purchase of drugs
  • D. construction of markets
  • E. purchase of hospital beds
View Answer & Discuss WAEC 1998
1660
Which of the following is an example of production overhead?
  • A. discount allowed
  • B. carried inwards
  • C. factory rent
  • D. carriage outwards
  • E. depreciation of office equipment
View Answer & Discuss WAEC 1998
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