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1936
A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. How much is carried in the Balance Sheet at 31st December 1990?
  • A. N1,350
  • B. N1,080
  • C. N338
  • D. N270
  • E. N90
View Answer & Discuss WAEC 1992
1937
A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. The amount carried in the Balance Sheet is classified as
  • A. current asset
  • B. current liabilities
  • C. investment
  • D. fictitious asset
  • E. reserve
View Answer & Discuss WAEC 1992
1938
Subscription in advance is treated in the balance sheet of a club as
  • A. current liability
  • B. current asset
  • C. fixed asset
  • D. fictitious asset
  • E. intangible asset
View Answer & Discuss WAEC 1992
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1939
Directors' remuneration are recorded in the book as
  • A. revenue expenditure
  • B. appropriaion
  • C. deferred expenditure
  • D. provision
  • E. capital expenditure
View Answer & Discuss WAEC 1992
1940
In a non-profit oriented organization, the excess of income over expenditure is
  • A. asses ro the capita,l
  • B. added to the accumulated fund
  • C. deducted from the capital
  • D. deduced from the accumulated fund
  • E. deduced from the reserve
View Answer & Discuss WAEC 1992
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts