Waec Accounts - Principles of Accounts 2006 Past Questions and Answers

Question 1:

• WAEC 2006

The art of collecting, recording, presenting and interpreting accounting data is

A. Cost accounting
B. Management accounting
C. Financial accounting
D. Data processing

Question 2:

• WAEC 2006

The art of collecting, recording, presenting and interpreting accounting data is

A. Cost accounting
B. Management accounting
C. Financial accounting
D. Data processing

Question 3:

• WAEC 2006

The depreciation method in which the number of years of the useful life of an asset is allocated in a reverse order is

A. Straight line
B. Reducing balance
C. Sum of the yeara; digits
D. Revaluation

Question 4:

• WAEC 2006

A system where a separate cash book is maintained for small payments is

A. Single entry
B. Imprest
C. Float
D. Reimbursement

Question 5:

• WAEC 2006

Public sector accounting is practiced in

A. Public limited companies
B. Government organization
C. Profit making organization
D. Public trainging company