Waec Accounts - Principles of Accounts 2003 Past Questions and Answers

Question 6:

• WAEC 2003

The document which advertises the sale of shares of a company is a/an

A. Prospectus
B. Debenture
C. Statement
D. Invoice

Question 7:

• WAEC 2003

Which of the following is not an externally visible part of a computer?

A. Centra processing unit
B. Microchip
C. Monitor
D. Keyboard

Question 8:

• WAEC 2003

Which of the following is the responsibility of a local government?

A. Constructing market stalls
B. Raising income tax revenue
C. Developing highways and tolling them
D. Developing major ports for tax purposes

Question 9:

• WAEC 2003

The procedure for utilizing the savings from one sub-head of expenditure to pay for another under the same head is

A. Apportionment
B. Virement
C. Appropriation
D. Allocation

Question 10:

• WAEC 2003

Patient and trade marks are classified under

A. Intangible assets
B. Current assets
C. Fixed assets
D. Wasting assets