Accounts - Principles of Accounts Past Questions

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1941

Which of the following will not affect the agreement of the cash book balance and bank statement balance?

A. bank charges
B. standing order
C. dishonoured cheque
D. cash payment
E. unpresented cheques

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1942

Ajijola Enterprises bought 40 pairs of shoes at N45 each from Kabi Shoe Factory on credit. This transaction will first be recorded by Ajijola in the

A. ledger
B. principal journal
C. cash book
D. purchases day book
E. sales day book

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1943

Impersonal real accounts include. i. expenditure on telephone ii. motor vehicles iii. expenses on telegram iv. land and buildings

A. i and iii
B. iii and iv
C. ii and iv
D. i, ii and iii
E. i, ii, iii and iv

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1944

In a professional partnership, membership must be between

A. 2 and 8
B. 2 and 10
C. 2 and 50
D. 2 and any number
E. 2 and 20

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1945

A private limited company is that which i. restricts the right to transfer its share. ii. has a minimum of seven members. iii. limits membership to fifty. iv. offers its shares for sale to the public

A. i and ii
B. ii and iv
C. i and iv
D. ii and iii
E. i and iii

View Answer & Discuss WAEC 1992

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Accounts - Principles of Accounts Past Questions

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