1998 - WAEC Accounting Past Questions and Answers - page 3

Which of the following is/are true? i. depreciation charges increase profits ii. reduction in provision for bad debt increases profit iii. undervalued stock increases profits

Uche returned goods worth N1,500 to Udo. Uche should receive

To realize an asset means to

When a fixed asset is fully depreciated, its net book value is

Goods worth N800 was stolen. The double entries are, debit,

Payment for shares in excess of amount demanded gives rise to

Provision for discount on debtor on debtors is to be

Which of the following cannot be realized?

Use the following information to answer the given question
\(\begin{array}{c|c} & N \ \hline \text{Construction of classrooms} & 500,000\ \text{Purchase of tablets and chairs} & 50,000 \ \text{Purchase of textbooks for library} & 40,000 \ \text{Annual inter-house sports competition} & 20,000 \ \text{Payment of teachers salary} & 80,000
\end{array}\)
Capital expenditure for the year was

Use the following information to answer the given question
\(\begin{array}{c|c} & N \ \hline \text{Construction of classrooms} & 500,000\ \text{Purchase of tablets and chairs} & 50,000 \ \text{Purchase of textbooks for library} & 40,000 \ \text{Annual inter-house sports competition} & 20,000 \ \text{Payment of teachers salary} & 80,000
\end{array}\)
Recurrent expenditure of the year was