Accounts Principles Of Accounts 2007 Waec Past Questions and Answers

Question 1 :

• WAEC 2007

The manufacturing account is prepared to determine the cost of

A. Trading
B. Production
C. Factory overhead
D. Raw materials

Question 2 :

• WAEC 2007

The manufacturing account is prepared to determine the cost of

A. Trading
B. Production
C. Factory overhead
D. Raw materials

Question 3 :

• WAEC 2007

Factory costs excluding prime cost is

A. Overhead
B. Material cost
C. Fixed cost
D. Administration cost

Question 4 :

• WAEC 2007

An example of direct expenses is

A. Insurance
B. Carriage inwards
C. Purchases of raw materials
D. Royalty

Question 5 :

• WAEC 2007

Which of the following is not shown in the trial balance?

A. Opening stock
B. Closing stock
C. Discounts allowed
D. Discounts received