2011 - WAEC Accounting Past Questions and Answers - page 5
41
The process of recording financial transactions of government is
A
management accounting
B
financial accounting
C
cost accounting
D
public sector accounting
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42
The bank statement shows a debit balance of Le 475. After the entry of an uncredited of Le Le 800, the new balance is
A
Le 325 overdraft
B
Le 325
C
Le 1,275
D
Le 1,275 overdraft
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43
The business entity concept
A
seperates the owner's transactions from the business transactions
B
records transactions outside the business
C
does not seperate the owner's trasactions from the business transactions
D
involves other business transactions
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44
Which of the following is not used in Public accounting?
A
cash book
B
trial balance
C
profit and loss account
D
bank reconciliation statement
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45
The concept which states that assets are not to be recorded at their current market value is
A
money measuremen
B
materiality
C
cost
D
entity
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46
Provision for depreciation on delivery van is charged to
A
trading account
B
profit and loss account
C
appropriation account
D
manufacturing account
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47
Which of the following date lines is correct for a profit and loss account?
A
for the year ended 31st December 2009
B
as 31st December 2009
C
for the period 31st December 2009
D
as at the year 2009
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