Waec Accounts - Principles of Accounts 1993 Past Questions and Answers

Question 21:

• WAEC 1993

Interest on Johnson's drawing is

A. N500
B. N300
C. N200
D. N150
E. N100

Question 22:

• WAEC 1993

Which of the following is the most liquid?

A. Land and buildings
B. Cash at bank
C. Machinery
D. Goodwill
E. Furnitures and fittings

Question 23:

• WAEC 1993

Which of the following does not belong to the group?

A. Plant and machinery
B. Stock
C. Goodwill
D. Preliminary expenses
E. Overdraft

Question 24:

• WAEC 1993

A partner's drawing is debited to

A. Profit and loss appropriation account
B. Interest account
C. Loan account
D. Current account
E. Trading account

Question 25:

• WAEC 1993

Trade debts amounting to N300 were written off. Which of the following would be affected?

A. Purchases
B. Profit and losses
C. Creditors
D. Sales ledger
E. Trading account