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Accounts - Principles of Accounts Past Questions

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1851
Profit expressed as a proportion of cost price is known as
  • A. grss profit
  • B. profit make-up
  • C. profitt margin
  • D. profit percentage
  • E. profit ratio
View Answer & Discuss WAEC 1994
1852
Bosun bought goods worth N500 and sold it at a margin of 20% on selling price. For how much did he sell the goods?
  • A. N100
  • B. N125
  • C. N500
  • D. N600
  • E. N625
View Answer & Discuss WAEC 1994
1853
Which of the following does not appear on the debit side of a company's profit and loss appropriation account?
  • A. compny tax
  • B. unappropriated surplus
  • C. proposed dividend
  • D. transfer to rserve
  • E. interim dividend paid
View Answer & Discuss WAEC 1994
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1854
Which of the following is not a profit and loss appropriation account item?
  • A. staff salaries
  • B. interest on capital
  • C. interest on money advanced by partners
  • D. share of profit
  • E. interest and drawings
View Answer & Discuss WAEC 1994
1855
Drawing appear on the
  • A. debit side of the profit and loss account
  • B. credit side of te profit and loss account
  • C. debit side of the appropriation account
  • D. debit side of the current account
  • E. credit side of the appropriation account
View Answer & Discuss WAEC 1994
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