1999 - WAEC Accounting Past Questions and Answers - page 5

41
One mega byte is equal to
A
8 bytes
B
1 millin bytes
C
10 million bytes
D
1 billion bytes
correct option: a
Users' Answers & Comments
42
Purchases of goods from Obi had been entered in Obike's Account. This is an error of
A
omssion
B
compensation
C
commission
D
original entry
correct option: c
Users' Answers & Comments
43
The authority of the Accountant General to disburse from government fund is called
A
estimate
B
warrant
C
provision
D
vote
correct option: b
Users' Answers & Comments
44
Umana Ltd. issued 200,000 shares at N1 each out of its Authorized Share capital of N300,000 at N1 each. At the end of the first call, all shareholders paid in full, except for one shareholder who owes N10,000. The company's paid-up capital is
A
N310,000
B
N290,000
C
N210,000
D
N190,000
correct option: d
Users' Answers & Comments
45
Umana Ltd. issued 200,000 shares at N1 each out of its Authorized Share capital of N300,000 at N1 each. At the end of the first call, all shareholders paid in full, except for one shareholder who owes N10,000. The unissued capital of the company is
A
N310,000
B
N300,000
C
N210,000
D
N100,000
correct option: d
Users' Answers & Comments
46
The total share capital which a company would be allowed to issue is known as
A
issued share capital
B
authorised share capital
C
working capital
D
fixed capital
correct option: b
Users' Answers & Comments
47
Creditors at start was N4,650 and at close N2,480, cash paid to suppliers during the year amounted to N12,000. Credit purchases for the year is valued at
A
N14,480
B
N12,000
C
N9,830
D
N7,130
correct option: c
Users' Answers & Comments
48
A sale of goods to audu was not posted. This is an error of
A
omission
B
compensation
C
commission
D
principle
correct option: a
Users' Answers & Comments
49
Into how many major types can general purpose computers be classified?
A
six
B
five
C
four
D
three
correct option: d
Users' Answers & Comments
50
Which of the following is nit a petty cash book item? purchase of
A
machinery
B
stamps
C
office pins
D
milk
correct option: a
Users' Answers & Comments
Please share this, thanks: