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Accounts - Principles of Accounts Past Questions

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1746
Which of the following is no part of prime cost of production?
  • A. cost raw materials
  • B. carriage on raw materials
  • C. direct expenses
  • D. direct wages
  • E. depreciation of factory equipment
View Answer & Discuss WAEC 1996
1747
The person who has applied for shares in a company is called
  • A. allotee
  • B. subscriber
  • C. promoter
  • D. shareholder
  • E. applicant
View Answer & Discuss WAEC 1996
1748
The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. What is the provision for doubtful debts?
  • A. N910
  • B. N650
  • C. N637
  • D. N377
  • E. N260
View Answer & Discuss (1) WAEC 1996
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1749
The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. Bad debts is
  • A. N910
  • B. N650
  • C. N637
  • D. N377
  • E. N260
View Answer & Discuss WAEC 1996
1750
Which of the following are examples of Nominal account?
  • A. land and insurance
  • B. cash and interest
  • C. building and cash
  • D. machinery and wages
  • E. rent and discount
View Answer & Discuss WAEC 1996
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