2010 - WAEC Accounting Past Questions and Answers - page 5
41
On 1/7/07, a trader owed wages of Le 2,000. During the year ended 30/6/08, wages of Le, 2,400 were owed and Le 8,000 were paid. Using the information, the wages recorded in the balance sheet as at 30/6/08 is
A
Le 2,400
B
Le 8,400
C
Le 8,000
D
Le 7,600
correct option: b
Users' Answers & Comments42
The collection and organization of data is
A
accounting process
B
central processing
C
data processing
D
data manipulation
correct option: c
Users' Answers & Comments43
On 1/7/07, a trader owed wages of Le 2,000. During the year ended 30/6/08, wages of Le, 2,400 were owed and Le 8,000 were paid. Using the information, wages recorded in the balance sheet as at 30/6/08 is
A
Le 12,400
B
Le 6,000
C
Le 2,400
D
Le 2,000
correct option: c
Users' Answers & Comments44
Money receiving from a customer is recorded in the customer;s account and bank account; the accounting concept applied is
A
business entity
B
dual aspect
C
going-concern
D
money measurement
correct option: b
Users' Answers & Comments45
The amount for which a business is sold is that
A
goodwill
B
cosidetated fund
C
purchase
D
considerations
correct option: c
Users' Answers & Comments46
Which of the following is a prime cost?
A
royalty
B
salary
C
commission
D
discounts allowed
correct option: a
Users' Answers & Comments