2004 - WAEC Accounting Past Questions and Answers - page 2

Use the following information to answer the question
\(\begin{array}{c|c} \text{Unpresented cheques} & N85,305 \ \text{Balance as per bank statement} & N206,865 \ \text{Balance as per cash book} & N144,495\end{array}\)
Uncredited cheques amount to

Which of the following terms describes the provision made for the loss in the value of an asset that has a legal life span?

The amount set aside out of profit for a specific purpose is

Which of the following is correct about cost of goods sold?

Net debtors is

The balance on the sales ledger control Account at the end if the accounting year represents total

a decrease in the provision for doubtful debts result in

The accounting concept which allows the use of a particular method for treating a transaction for a reasonable number of years is

Use the following to answer the given question
\( \begin{array}{c|c} \text{Purchases} & 2,000\ \text{Opening stock} & 900\ \text{Closing stock} & 300 \ \text{Sales} & 3,850\end{array}\)
Gross profit is

Use the following to answer the given question
\( \begin{array}{c|c} \text{Purchases} & 2,000\ \text{Opening stock} & 900\ \text{Closing stock} & 300 \ \text{Sales} & 3,850\end{array}\)
The cost of goods available is