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Accounts - Principles of Accounts Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1781
If incorrect entries on the debit side equal other incorrect entries on the credit side, the error is that of
  • A. ordinary entry
  • B. omission
  • C. commission
  • D. compensation
  • E. principle
View Answer & Discuss WAEC 1995
1782
The accounting entries required for increase in provision for doubtful debts are
  • A. debit profit and loss account, credit provision for doubtful debts account
  • B. credit provision for doubtful debts account; debit profit and loss account
  • C. credit trading account; credit provision and doubtful debts account
  • D. credit trading trading account; debit provision for doubtful debts account
  • E. credit debtor's account; debit provision for doubtful debts account
View Answer & Discuss WAEC 1995
1783
Subscription in advance is an example of
  • A. payment
  • B. accual
  • C. debtors
  • D. provision
  • E. reserves
View Answer & Discuss WAEC 1995
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1784
Which of the following is an example of Personal Accounts?
  • A. stock
  • B. fixture
  • C. equiptment
  • D. rent
  • E. debtors
View Answer & Discuss WAEC 1995
1785
Working capital is measured by the excess of
  • A. current liabilities over current assets
  • B. fixed assets over current assets
  • C. currents assets over current liabilities
  • D. current assets over fixed assets
  • E. long term liabilities fixed assets
View Answer & Discuss (4) WAEC 1995
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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