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Accounts - Principles of Accounts Past Questions

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1946
One of the advantages of control account is that
  • A. all errors are localised tus reducing delays in balancing accounts
  • B. all erroes are generalized thus reducing delays in balancing accounts
  • C. book keepers cannot make mistakes
  • D. all errors are posted into the account
  • E. all cash transactions are posted into the accounts
View Answer & Discuss WAEC 1992
1947
The assets of business can be classified broadly int
  • A. fixed and floating assets
  • B. fixed and current assets
  • C. intangible and fixed assets
  • D. current and circulating assets
  • E. investment and tangibl assets
View Answer & Discuss WAEC 1992
1948
The Chief accounting officer of the Federation Republic of Nigeria is the
  • A. chief accountant
  • B. minister of finace
  • C. minister of economic planning
  • D. accountant general of the federation
  • E. auditor general of the federation
View Answer & Discuss WAEC 1992
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1949
Materials are taken out of government unallocated store by means of
  • A. verbal instruction by the Governor
  • B. stores issue voucher
  • C. stores credit voucher
  • D. store ledger card
  • E. departmental authorisation order
View Answer & Discuss (1) WAEC 1992
1950
As evidence of payment to a government ministry, the revenue collector issue
  • A. treasury card
  • B. receipt voucher card
  • C. treasury recipet
  • D. payment voucher
  • E. store receipt voucher
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
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