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Accounts - Principles of Accounts Past Questions

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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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2806

Which of the following describes a trial balance? 
 

  • A. it shows all the entries in the books
  • B. It reveals the financial position of a business
  • C. It is a list of accounting balances on the books
  • D. it is a special account
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2807

The accounts of Jute Enterprise in the books of a supplier will be a

  • A. nominal account in the general ledger
  • B. personal account in the sales ledger
  • C. personal account in the purchases ledger
  • D. real account in the general ledger
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2808

Account payable is classified as a

  • A. prepayment
  • B. provision
  • C. current liability
  • D. long term liability
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2809

The accounting concept that provides that accounting statements should not be influenced by personal opinion is

  • A. materiality
  • B. periodicity
  • C. objectivity
  • D. conservatism
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2810

Which of the following accounts are found in the nominal ledger?
I. Advertising
ll.Motor repairs
lll. Additions to the motor vehicle

  • A. materiality
  • B. periodicity
  • C. objectivity
  • D. conservatism
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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
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709