Waec Accounts - Principles of Accounts 1998 Past Questions and Answers

Question 11:

• WAEC 1998

Which of the following is n asset?

A. Bad debt provision
B. Rent in arrears
C. Sales
D. Accrued wages
E. Insurance prepaid

Question 12:

• WAEC 1998

A balance sheet is prepared

A. For the year ended...........19 x 1
B. For............19 x 1
C. As to.............19 x 1
D. In the year..............19 x 1
E. Up to...........19 x 1

Question 13:

• WAEC 1998

Which of the following is not a Nominal Account?

A. Electricity account
B. Furnitures and fittings account
C. Postages and telephone account
D. Insurance account
E. Discount allowed account

Question 14:

• WAEC 1998

Partners salary is shown in the

A. Trading account
B. Profit and loss account
C. Income and expenditure
D. Profit and loss appropriation account
E. Partner's capital account

Question 15:

• WAEC 1998

Which of the following is the personal ledger?

A. Assets account
B. Discount allowed account
C. Sales account
D. Discount received account
E. Debtors account