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Accounts - Principles of Accounts Past Questions

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1681
A sales day book is used to record
  • A. cash sales of stock
  • B. credit sales of stock
  • C. cash and credit sales of stock
  • D. cash sales of fixed assets
  • E. credit sales of fixed assets
View Answer & Discuss WAEC 1997
1682
Which of the following is not a capital expenditure to a local government?
  • A. beds
  • B. theatre equipment
  • C. incubators
  • D. x-ray machine
  • E. drugs
View Answer & Discuss WAEC 1997
1683
A Receipt and Payments Account reveals
  • A. net profit
  • B. surplus
  • C. cash in hand
  • D. gross profit
  • E. net loss
View Answer & Discuss WAEC 1997
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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1684
An example of appropriation of profit in a company is
  • A. salaries
  • B. rent income
  • C. debenture interest
  • D. director's remuneration
  • E. dividend
View Answer & Discuss WAEC 1997
1685
In a partnership goodwill is recognized when
  • A. a new partner is admitted
  • B. a partner is dormant
  • C. the business is making huge profit
  • D. the business has good customer relations
  • E. it is a limited partnership
View Answer & Discuss WAEC 1997
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