Waec Accounts - Principles of Accounts 1996 Past Questions and Answers

Question 26:

• WAEC 1996

Which of the following is not charged to Manufacturing Account?

A. Raw materials
B. Factory's wages
C. Distribution expenses
D. Royalties

Question 27:

• WAEC 1996

Discount received is shown in the

A. Credit side of sales ledger balances
B. Debit side f bought ledger balances
C. Credit side of bought ledger balances
D. Debit side of sales ledger balances
E. Sales ledger balances as contra entry

Question 28:

• WAEC 1996

Which of the following does not appear in a bank statement?

A. Dividend received received on behalf of customers
B. Bank charges
C. Insurance premium paid on behalf of customers
D. Dishonoured chques
E. Uncredied charges

Question 29:

• WAEC 1996

Impersonal Accounts contain

A. Real and cash accounts
B. Capital and nominal accounts
C. Real and normal accounts
D. Investment and real accounts
E. Interest received and real account

Question 30:

• WAEC 1996

Which of the following is a charge against profit?

A. Ordinary dividend
B. General reserve
C. Preference dividend
D. Debenture interest
E. Revenue reserve