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Accounts - Principles of Accounts Past Questions

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1786
The undistributed profits of a limited liability company is
  • A. goodwill
  • B. working capital
  • C. net profit
  • D. rtained earings
  • E. net loss
View Answer & Discuss WAEC 1995
1787
Credit sales were debited to A. Akpan instead of B. Akpan. This is an error of
  • A. principle
  • B. original entry
  • C. omission
  • D. commission
  • E. compensation
View Answer & Discuss WAEC 1995
1788
A list of balance extracted from the ledger is known as
  • A. balance sheet
  • B. statement of affairs
  • C. trading account
  • D. profit and losss account
  • E. trial balance
View Answer & Discuss WAEC 1995
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1789
Provision for depreciation on office furniture is charged to
  • A. capital account
  • B. profit and loss appropriation account
  • C. trading account
  • D. profit and loss account
  • E. manufacturing account
View Answer & Discuss WAEC 1995
1790
Which of the following is not a cause discrepancy between cash book and bank statement balances?
  • A. deposits in transit
  • B. standing order
  • C. paid cheques
  • D. dishonoured cheque
  • E. uncredited cheques
View Answer & Discuss WAEC 1995
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