Waec Accounts - Principles of Accounts 2009 Past Questions and Answers

Question 6:

• WAEC 2009

The reduction in value of an intangible asset is

A. Depletion
B. Depression
C. Amortization
D. Appreciation

Question 7:

• WAEC 2009

Which of the following is not part of the cost of production

A. Wages of operators
B. Factory power
C. Advertising
D. Cost of raw materials

Question 8:

• WAEC 2009

Rent is apportioned each department on the basis of

A. Area or space occupied
B. Equuality
C. Turnover
D. Purchases

Question 9:

• WAEC 2009

A document which acknowledge that a company owes a person a stated sum of money with an agreement to pay a fixed rate of interest periodically is

A. Share certificate
B. Allotment certificate
C. Preference certificate
D. Debenture certifate

Question 10:

• WAEC 2009

Use the following information to answer the given question
\(\begin{array}{c|c} & D\\ \hline \text{Purchase of raw materials} & 236,500\\ \text{Returns of raw materials} & 4,750\\ \text{Carriage on raw materials} & 44,000\\ \text{Stock of raw materials at close} & 39,500 \\ \text{Factory fuel} & 150,000\\ \text{Direct wages} & 205,000\\ \text{Indirect wages} & 31, 250\\ \text{Factory power} & 3105,000\\ \text{Work-in-progress at start} & 32,500\end{array}\)
What is the value of raw materials used?

A. D 270,500
B. D 286,250
C. D 255,000
D. D 236,250