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Accounts - Principles of Accounts Past Questions

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1881
Payment for future services are
  • A. prepayment
  • B. deposit
  • C. accruals
  • D. invesment
  • E. advances
View Answer & Discuss WAEC 1993
1882
An excess of the value of the assets over the purchases consideration for acquisition of business is credited to
  • A. general reserve
  • B. capital reserve
  • C. goodwill
  • D. current asset
  • E. share capital
View Answer & Discuss WAEC 1993
1883
shares are sold at less than nominal value. They are issued at a
  • A. profit
  • B. loss
  • C. discount
  • D. premium
  • E. par
View Answer & Discuss WAEC 1993
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1884
A share is under-subscribed when
  • A. it is offered for sale at less than the nominal value
  • B. it is offered for sale at nominal value
  • C. the number of shares applied for is less than the offer
  • D. it is offered for sale at more thn norminal value
  • E. the number of shares applied for is more than the offer
View Answer & Discuss WAEC 1993
1885
Mark-up on goods sent to branch offices are recorded in the books by creating
  • A. stock adjustment account debiting branch stock account
  • B. goods sent to branch account and debiting branch stock account
  • C. branchh stock account and debiting stock adjustment account
  • D. cash account and crediting branch stock account
  • E. branch stock account and crediting defalcations account
View Answer & Discuss WAEC 1993
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