1998 - WAEC Accounting Past Questions and Answers - page 2
11
A balance sheet is prepared
A
for the year ended...........19 x 1
B
for............19 x 1
C
as to.............19 x 1
D
in the year..............19 x 1
Ask EduPadi AI for a Detailed Answer
12
Which of the following is not a Nominal Account?
A
electricity account
B
furnitures and fittings account
C
postages and telephone account
D
insurance account
Ask EduPadi AI for a Detailed Answer
13
Partners salary is shown in the
A
trading account
B
profit and loss account
C
income and expenditure
D
profit and loss appropriation account
Ask EduPadi AI for a Detailed Answer
14
Which of the following is the personal ledger?
A
assets account
B
discount allowed account
C
sales account
D
discount received account
Ask EduPadi AI for a Detailed Answer
15
Which of the following has a debit balance? i. calls-in-arrears ii. cash-in-advance iii. share discount
A
i
B
ii
C
iii
D
ii and iii
Ask EduPadi AI for a Detailed Answer
16
Use the following information to answer the given question
(
The value of current assets is
A
N68,300
B
N57,000
C
N40,300
D
N39,500
Ask EduPadi AI for a Detailed Answer
17
Use the following information to answer the given question
(
The value of current liabilities is
A
N56,5000
B
N40,300
C
N39,500
D
N28,000
Ask EduPadi AI for a Detailed Answer
18
Use the following information to answer the given question
(
The opening capital is
A
N52,2000
B
N51,200
C
N48,300
D
N39,500
Ask EduPadi AI for a Detailed Answer
19
Use the following information to answer the given question
(
The value of total fixed assets is
A
N119,500
B
N90,000
C
N80,000
D
N79,200
Ask EduPadi AI for a Detailed Answer
20
Accounts payable is
A
an accrual
B
a provisin
C
a current liability
D
a long-term liability
Ask EduPadi AI for a Detailed Answer