1992 - WAEC Accounting Past Questions and Answers - page 2

Subscription in advance is treated in the balance sheet of a club as

Directors' remuneration are recorded in the book as

In a non-profit oriented organization, the excess of income over expenditure is

Which of the following will not affect the agreement of the cash book balance and bank statement balance?

Ajijola Enterprises bought 40 pairs of shoes at N45 each from Kabi Shoe Factory on credit. This transaction will first be recorded by Ajijola in the

Impersonal real accounts include. i. expenditure on telephone ii. motor vehicles iii. expenses on telegram iv. land and buildings

In a professional partnership, membership must be between

A private limited company is that which i. restricts the right to transfer its share. ii. has a minimum of seven members. iii. limits membership to fifty. iv. offers its shares for sale to the public

One of the advantages of control account is that

The assets of business can be classified broadly int