1997 - WAEC Accounting Past Questions and Answers - page 1
A suspense account is used to
To correct an error, the purchases account was debited while Suspense account was credited. Which of the following was the cause of the error?
Subscription in advance is treated in the Balance sheet of non-profit making organizations as
A sales day book is used to record
Which of the following is not a capital expenditure to a local government?
A Receipt and Payments Account reveals
An example of appropriation of profit in a company is
In a partnership goodwill is recognized when
Which of the following is a normal account?
Use the following information to answer this question
An asset was bought on 1st January, 1992 for N20,000. Depreciation was provided for annually at 20% on cost. It was sold for N7,000 on 1st July, 1995.
The net book value at the time of sale was