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Accounts - Principles of Accounts Past Questions

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1796
The aggregate of amounts owed to a business by is customers is known as
  • A. accounts receivable
  • B. account current
  • C. accounts payable
  • D. accumulated fund
  • E. debtors' fund
View Answer & Discuss WAEC 1995
1797
Which of the following does a consignee prepare and send to his consignor?
  • A. account eceivable
  • B. current account
  • C. account payable
  • D. account sales
  • E. consignment account
View Answer & Discuss WAEC 1995
1798
In the consignee's record account, the accounting treatment of expenses paid for on behalf of the consignor is debit
  • A. consignee's account, credit cash account, credit cash account
  • B. cash account, credit consignor's account
  • C. consignee's account, credit cash account
  • D. cash account, credit consignee's account
  • E. account sales, credit consignee's account
View Answer & Discuss WAEC 1995
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1799
Which of the following is a fictitious asset?
  • A. preliminary expenses
  • B. fixtures and fittings
  • C. cash in hand
  • D. land and buildings
  • E. investment
View Answer & Discuss WAEC 1995
1800
Expenditure incurred to maintain an asset's earning capacity is called
  • A. capacity expenditure
  • B. revenue expenditure
  • C. general expenditure
  • D. tangible expenditure
  • E. intangible expenditure
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
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