Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Accounts - Principles of Accounts Past Questions

Clear Selections
Change Subject Post a Question Check Syllabus Study My Bookmarks Past Questions Videos Watch Video Lessons Download App

Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
2891

A limitation of the money measurement concept is that

  • A. it results in inaccurate financial statements
  • B. financial statement is not easily understood
  • C. important non-monetary activities are not reported
  • D. the reports are not comparable to that of other businesses
View Answer & Discuss WAEC 2021
2892

Where partners maintain a fluctuating capital account, partners' share of profit is credited to

  • A. capital account
  • B. profit and loss appropriate account
  • C. current account
  • D. profit and loss account
View Answer & Discuss WAEC 2021
2893

The difference between the market value of goods produced and the cost of production is

  • A. net profit on goods sold
  • B. gross profit on manufacturing
  • C. closing stock of work-in-progress
  • D. prime cost of manufacturing
View Answer & Discuss WAEC 2021
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
2894

Use the following information below to answer this question.

Attama and Wawa were in partnership sharing profits and losses in the ratio 4:3. Attama was entitled to a salary of D13,000 per annum. A net profit of D34,000 was made for the year.

The residual profit of the business for the year is

  • A. D47,000
  • B. D34,000
  • C. D22,000
  • D. D21,000
View Answer & Discuss WAEC 2021
2895

Use the following information below to answer this question.

Attama and Wawa were in partnership sharing profits and losses in the ratio 4:3. Attama was entitled to a salary of D13,000 per annum. A net profit of D34,000 was made for the year.

Attama's share of profit is

  • A. D21,000
  • B. D19,428
  • C. D12,000
  • D. D9,000
View Answer & Discuss WAEC 2021
Start a Free Practice Test
 
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now