2006 - WAEC Accounting Past Questions and Answers - page 1

The art of collecting, recording, presenting and interpreting accounting data is

The depreciation method in which the number of years of the useful life of an asset is allocated in a reverse order is

A system where a separate cash book is maintained for small payments is

Public sector accounting is practiced in

A book that contains the account for the financial transactions of an organizations is the

A sales ledger contains

The basis of accounting which eliminates debtors and creditors is

Which of the following is not a revenue account?

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \ \hline \text{ordinary shares of ₦1 each} & 500,000\ \text{8% preference shares of ₦1 each} & 200,000\ \text{Interim dividends paid} & \ \text{- ordinary shares} & 40,000\ \text{-preference shares} & 12,000\ \text{profit for the year} & 100,000\end{array}\)
If no profit is to be retained, proposed preference shares dividend is

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦\ \hline \text{ordinary shares of ₦1 each} & 500,000\ \text{8% preference shares of ₦1 each} & 200,000\ \text{Interim dividends paid} & \ \text{- ordinary shares} & 40,000\ \text{-preference shares} & 12,000\ \text{profit for the year} & 100,000\end{array}\)
The dividend per ordinary shares for the year is