2002 - WAEC Accounting Past Questions and Answers - page 2
The term bad debt is used to describe
The double entry for refund of unsuccessful application monies is debit
Which of the following is not an accounting concept?
An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. The net book value at the time of sale was
An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. Accumulated depreciation is
An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. Profit on sale is
The capital sum which represents the difference between he asset and liabilities of a society or club is
The total of the purchases day book is posted to the purchases account in the
The document authorising an officer to incur expenditure is known as
When shares are oversubscribed, the promoters may decide to scale down. When this is done, the shares are issued proportionately