Waec Accounts - Principles of Accounts 2009 Past Questions and Answers

Question 21:

• WAEC 2009

The purchase of a typewriter for office use for ₦2,000 is debited to

A. Creditors
B. Bank account
C. Purchases account
D. Equipment account

Question 22:

• WAEC 2009

The document making a public offer for he sale of a company's share is

A. Memorandum of association
B. Articles of association
C. Prospectus
D. Certificate of registration

Question 23:

• WAEC 2009

Programs installed in computers to facilitate processing of data are

A. Hardwares
B. Software
C. Magnetic tapes
D. Diskettes

Question 24:

• WAEC 2009

In a not for profit making organization, the excess of income over expenditure is

A. Added to capital
B. Added to accumulated fund
C. Deduced from capital
D. Deducted from accumulated fund

Question 25:

• WAEC 2009

The authorized capital of city entertainment company is made up of 200,000 2\(\frac{1}{2}\)% preference shares of Le 60 each and 300,000 ordinary shares have been issued at Le 30 each and fully paid. All the preference dividend and recommended ordinary divided Le 0.10 per share. Using the following information, what is the amount of preference dividend and recommended ordinary divided of Le 0.10 per share

A. Le 600,000
B. Le 500,000
C. Le 3,00,000
D. Le 5,000