2003 WAEC Accounts Past Questions & Answers - page 1

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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

No further explanations yet...

2
A chain store is known as?

A
department store
B
multiple store
C
supermarket
D
hypermarket

Correct Option: B

No further explanations yet...

3
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

Correct Option: C

Solution
Ft = M(v - u)

v - u = \(\frac{15 \times 5}{0.5} = 10N\)

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

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5
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

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6
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

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7
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

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8
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

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9
Patient and trade marks are classified under

A
intangible assets
B
current assets
C
fixed assets
D
wasting assets

Correct Option: A

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10
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

A
N75,000
B
N65,000
C
N55,000
D
N52,500

Correct Option: B

No further explanations yet...

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