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Accounts - Principles of Accounts Past Questions

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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
2476
A double entry for a transaction that offsets one amount against another on both sides of the cashbook is a
  • A. original entry
  • B. contra entry
  • C. prime entry
  • D. contract entry
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2477
What is the main purpose of transaction file?
  • A. To record assets and liabilities
  • B. To update income and expenses
  • C. to update master files
  • D. to make organization decision
View Answer & Discuss (1) JAMB 2017
2478
Processed data is only useful to user if it is
  • A. complex
  • B. quantitative
  • C. relevant
  • D. qualitative
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WAEC offline past questions - with all answers and explanations in one app - Download for free
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
2479
Changes can occur in partnership when:
i. partnership is dissolved
ii. There is amalgamation of partnership
iii.There is a change in the profit or loss sharing ratio
Iv. Intangible asset increase
  • A. I,II and IV
  • B. I & III
  • C. I,II and III
  • D. I, III and IV
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2480
The authority warrant issued prior to the approval of the appropriate bill at the beginning of the year
  • A. provisional general warrant
  • B. annual general warrant
  • C. Reserved expenditure warrant
  • D. contigencies
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free