2003 - WAEC Accounting Past Questions and Answers - page 1
1
An unfavourable balance of trade for a country means that her?
A
exports exceed imports
B
visible exports exceed invisible import
C
invisible exports exceed visible exports
D
imports and exports are equal
correct option: b
Users' Answers & Comments2
A chain store is known as?
A
department store
B
multiple store
C
supermarket
D
hypermarket
correct option: b
Users' Answers & Comments3
A net force of 15N acts upon a body of mass 3kg for 5s, calculate the change in the speed of the body
A
25.0ms-1
B
9.0ms-1
C
2.5ms-1
D
1.0ms-1
4
The transformation of pieces of information into a more useful format is
A
data processing
B
information processing
C
computerization
D
system analysis
correct option: a
Users' Answers & Comments5
The document which advertises the sale of shares of a company is a/an
A
prospectus
B
debenture
C
statement
D
invoice
correct option: a
Users' Answers & Comments6
Which of the following is not an externally visible part of a computer?
A
centra processing unit
B
microchip
C
monitor
D
keyboard
correct option: b
Users' Answers & Comments7
Which of the following is the responsibility of a local government?
A
constructing market stalls
B
raising income tax revenue
C
developing highways and tolling them
D
developing major ports for tax purposes
correct option: a
Users' Answers & Comments8
The procedure for utilizing the savings from one sub-head of expenditure to pay for another under the same head is
A
apportionment
B
virement
C
appropriation
D
allocation
correct option: b
Users' Answers & Comments9
Patient and trade marks are classified under
A
intangible assets
B
current assets
C
fixed assets
D
wasting assets
correct option: a
Users' Answers & Comments10
Use the following information to answer the given question.
\(\begin{array}{c|c} \text{Net profit for the year} & N75.000\ \text{Ordinary share capital of 50 kobo each} & N65,000\ \text{10% Preference shares of 50 kobo each} & N100,000\end{array}\)
The amount available as dividend to ordinary shareholders is
\(\begin{array}{c|c} \text{Net profit for the year} & N75.000\ \text{Ordinary share capital of 50 kobo each} & N65,000\ \text{10% Preference shares of 50 kobo each} & N100,000\end{array}\)
The amount available as dividend to ordinary shareholders is
A
N75,000
B
N65,000
C
N55,000
D
N52,500
correct option: b
Users' Answers & Comments