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Accounts Principles Of Accounts 1997 Waec Past Questions and Answers

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Accounts Principles Of Accounts 1997 Waec Past Questions


Question 6 :



Which of the following is not a capital expenditure to a local government?

A. Beds
B. Theatre equipment
C. Incubators
D. X-ray machine
E. Drugs


Question 7 :



A Receipt and Payments Account reveals

A. Net profit
B. Surplus
C. Cash in hand
D. Gross profit
E. Net loss


Question 8 :



An example of appropriation of profit in a company is

A. Salaries
B. Rent income
C. Debenture interest
D. Director's remuneration
E. Dividend


Question 9 :



In a partnership goodwill is recognized when

A. A new partner is admitted
B. A partner is dormant
C. The business is making huge profit
D. The business has good customer relations
E. It is a limited partnership


Question 10 :



Which of the following is a normal account?

A. Machinery
B. Debtors
C. Creditors
D. Salaries
E. Goodwill






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