Waec Accounts - Principles of Accounts 2008 Past Questions and Answers

Question 31:

• WAEC 2008

Which of the following s not part of cost of production?

A. Direct material cost
B. Direct wages
C. Factory overheads
D. Administrative overheads

Question 32:

• WAEC 2008

Which of the following is not a subsidiary book?

A. Sales journal
B. Cash book
C. Purchases ledger
D. General journal

Question 33:

• WAEC 2008

Use the following information,
$\begin{array}{cc}& D\\ \text{Construction of classrooms}& 500,000\\ \text{Sinking of boreholes}& 100,000\\ \text{Staff salaries}& 150,000\\ \text{Electricity}& 14,000\\ \text{Transport and travels}& 7000\\ \text{office expenses}& 9,000\end{array}$
Recurrent expenditure is

A. D180,000
B. D164,000
C. D150,000
D. D30,000

Question 34:

• WAEC 2008

Use the following information,
$\begin{array}{cc}& D\\ \text{Construction of classrooms}& 500,000\\ \text{Sinking of boreholes}& 100,000\\ \text{Staff salaries}& 150,000\\ \text{Electricity}& 14,000\\ \text{Transport and travels}& 7000\\ \text{office expenses}& 9,000\end{array}$
Capital expenditure is

A. D780,000
B. D750,000
C. D600,000
D. D500,000

Question 35:

• WAEC 2008

In bank reconciliation, when a cash book shows a credit balance, uncredited cheques are i. deducted from the cash book balance. ii. added to the bank statement balance. iii. added to the cash book balance

A. I and ii only
B. I,ii and iii
C. Ii and iii only
D. Iii only