Waec Accounts - Principles of Accounts 2006 Past Questions and Answers

Question 11:

• WAEC 2006

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)
The dividend per ordinary shares for the year is

A. ₦0.88 kobo
B. ₦0.40 kobo
C. ₦0.20 kobo
D. ₦0.17 kobo

Question 12:

• WAEC 2006

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{ordinary shares of ₦1 each} & 500,000\\ \text{8% preference shares of ₦1 each} & 200,000\\ \text{Interim dividends paid} & \\ \text{- ordinary shares} & 40,000\\ \text{-preference shares} & 12,000\\ \text{profit for the year} & 100,000\end{array}\)
The dividend per ordinary shares for the year is

A. ₦0.88 kobo
B. ₦0.40 kobo
C. ₦0.20 kobo
D. ₦0.17 kobo

Question 13:

• WAEC 2006

A customers who returns goods to the supplier because they are detective is issued a

A. Debit note
B. Credit note
C. Delivery note
D. Bank note

Question 14:

• WAEC 2006

Cross referencing among different books of accounts is achieved with the use of

A. Columns
B. Reference numbers
C. Folio
D. Margin

Question 15:

• WAEC 2006

In company accounts, profit after tax is shared in the

A. Appropriation account
B. Revaluation account
C. Current account
D. Realization account