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Accounts - Principles of Accounts Past Questions

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1801
Which of the following does not relate to a manufacturing concern?
  • A. balance sheet
  • B. profit and loss account
  • C. ledger account
  • D. cash book
  • E. income and expenditure
View Answer & Discuss WAEC 1995
1802
Which of the following is not true of a trial balance?
  • A. list taken of the account balance in the general ledger
  • B. proof of the arithmetical accuracy of the ledger postings
  • C. summary of data for the preparation of financial statement
  • D. list of account abstracted from a subsidiary ledger to check their agreement with the related control account
  • E. list of balances ensuring that the accounts are correct
View Answer & Discuss WAEC 1995
1803
The chief accounting officer of Nigeria is called the
  • A. auditor general
  • B. chief accountant
  • C. treasurer
  • D. accountant general
  • E. minister of finance
View Answer & Discuss WAEC 1995
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1804
Expenses incurred but not yet paid is
  • A. contigent liability
  • B. current liability
  • C. current asset
  • D. fixed asset
  • E. capiatal expenditure
View Answer & Discuss WAEC 1995
1805
Which of the following does not lead to depreciation assets?
  • A. wear and tear
  • B. passage of time
  • C. devaluation of Naira
  • D. obsolescence
  • E. usage
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