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Accounts - Principles of Accounts Past Questions

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2461

The instrument used to release fund which the minister of finance has earlier withheld is

  • A. Reserve expenditure warrant
  • B. Supplementary general warrant
  • C. Provisional general warrant
  • D. Supplementary statutory warrant
View Answer & Discuss WAEC 2015
2462

Which of the following relates to cash basis of accounting?

  • A. Accruals and prepayments are considered
  • B. Debtors and creditors are recorded
  • C. Fixed assets are written off in the year of purchase
  • D. Profits are maximized
View Answer & Discuss (1) WAEC 2015
2463

Which of the following is found on the credit side of a partnership's appropriation of profit account?

  • A. Interest on capital
  • B. Interest on drawings
  • C. Share of profit
  • D. Drawings
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2464

Which of the following is a spreadsheet application?

  • A. Excel
  • B. Word
  • C. Internet
  • D. Windows
View Answer & Discuss (1) WAEC 2015
2465

The quality of output information depends on the

  • A. Quality of input data
  • B. Time of processing
  • C. Speed of processing
  • D. Quantity of output service
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