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Accounts Principles Of Accounts 2007 Waec Past Questions and Answers

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Accounts Principles Of Accounts 2007 Waec Past Questions


Question 46 :



The maximum amount which a company is allowed to raise through the sale of shares is

A. Authorized capital
B. Paid-up capital
C. Issued capital
D. Working capital


Question 47 :



The double entry in the books to write off goodwill is

A. Debit Goodwill account, credit capital account
B. Debit Goodwill account, credit revaluation account
C. Debit profit and loss appropriation account, credit Goodwill account
D. Debit Trading account, credit Goodwill account


Question 48 :



Holder of ordinary shares do not have the right to

A. Participate in additional issue of shares
B. Vote at annual general meetings
C. Elect the board of directors
D. Receive dividends at a predetermined rate


Question 49 :



Which of the following is not a real account?

A. Building account
B. Motor vehicle account
C. Patents account
D. Furniture account


Question 50 :



An example of capital gain s

A. Premium
B. Bonus
C. Shares
D. Debenture






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