Waec Accounts - Principles of Accounts 1992 Past Questions and Answers

Question 21:

• WAEC 1992

The assets of business can be classified broadly int

A. Fixed and floating assets
B. Fixed and current assets
C. Intangible and fixed assets
D. Current and circulating assets
E. Investment and tangibl assets

Question 22:

• WAEC 1992

The Chief accounting officer of the Federation Republic of Nigeria is the

A. Chief accountant
B. Minister of finace
C. Minister of economic planning
D. Accountant general of the federation
E. Auditor general of the federation

Question 23:

• WAEC 1992

Materials are taken out of government unallocated store by means of

A. Verbal instruction by the Governor
B. Stores issue voucher
C. Stores credit voucher
D. Store ledger card
E. Departmental authorisation order

Question 24:

• WAEC 1992

As evidence of payment to a government ministry, the revenue collector issue

A. Treasury card
B. Receipt voucher card
C. Treasury recipet
D. Payment voucher
E. Store receipt voucher

Question 25:

• WAEC 1992

The fixed amount of money set aside for pretty expenses is called

A. Ordinary fund
B. Accumulated fund
C. Float
D. Imprest receipt
E. Imprest fund