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Accounts - Principles of Accounts Past Questions

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3121
 

Plant and Machinery

190000

Motor Vehicle

170000
Stock 60000

Current Liabilities

50000

Purchase consideration

40000

The goodwill is?

  • A. ₦110,000
  • B. ₦30,000
  • C. ₦90,000
  • D. ₦80,000
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3122

Which of these is not method of stock valuation?

  • A. FIFO method
  • B. Base method
  • C. Standard method
  • D. LIFO method
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3123

An evidence of payment issued to a government ministry by a revenue collector is

  • A. treasury card
  • B. payment voucher
  • C. treasury receipt
  • D. receipt voucher
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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
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3124

The account where the profit are distributed to the partner in their profit sharing ratio in partnership

  • A. appropriation account
  • B. profit and loss account
  • C. balance sheet
  • D. trading account
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3125

The main purpose of transaction file is?

  • A. to record assets and liabilities
  • B. to update income and expenses
  • C. to make organization decision
  • D. to update master files
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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
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