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Accounts - Principles of Accounts Past Questions

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1706
The amount for which a business is sold is known as
  • A. goodwill
  • B. capital reserve
  • C. purchase consideration
  • D. premium
  • E. equity
View Answer & Discuss WAEC 1997
1707
The person who is responsible for the formation of a company is called the
  • A. promoter
  • B. dividend
  • C. shareholder
  • D. director
  • E. subscriber
View Answer & Discuss WAEC 1997
1708
The amount of a company's profit given to a shareholder is known as
  • A. premium
  • B. dividend
  • C. insterst
  • D. allotment
  • E. warrant
View Answer & Discuss WAEC 1997
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1709
Which of the following best described the path of a transaction?
  • A. Source documents to Journal to Ledger
  • B. Source documents to Ledger to Journal
  • C. Journal to Ledger to source documents
  • D. Journal to source documents to Ledger
  • E. Ledger to Joural to source documents
View Answer & Discuss WAEC 1997
1710
Where there are no proper books of account , the capital at the commencement of a period is ascertained by preparing
  • A. Total Debtors and Creditors Accounts
  • B. Bank Reconciliation Statement
  • C. Statement of Affairs
  • D. Trading, Profit and Loss Accounts
  • E. Balance Sheet
View Answer & Discuss WAEC 1997
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