Waec Accounts - Principles of Accounts 2009 Past Questions and Answers

Question 41:

• WAEC 2009

Use the following information to answer the given question
\(\begin{array}{c|c} & Dr & Dr & \text{Balance}\\ \hline & ₦ & ₦ & ₦ \\ \text{2/1/06 Balance b/d} & & & 2,000 \\ \text{3/1/06 '23456'} & 500 & & 1,500\\ \text{4/1/06 Deposit} & & 1,000 & 2,500\\ \text{5/1/06 Deposit} & & 1500 & 4,000\\ \text{6/1/06 '23457'} & 3,000 & & 1,000\end{array}\)
Total withdrawal is

A. ₦3,500
B. ₦2,500
C. ₦2,000
D. ₦1,000

Question 42:

• WAEC 2009

The depreciation on plant acquired by a manufacturing company is treated as

A. Prime cost
B. Administrative expenses
C. Factory overhead
D. Selling and distribution expenses

Question 43:

• WAEC 2009

As evidence of payment to a government treasury, revenue collectors issue

A. Treasury card
B. Receipt voucher card
C. Treasury receipt
D. Payment voucher

Question 44:

• WAEC 2009

Hardware in data processing refers to

A. Programs runs on the computer
B. Entry and storage of information on computer
C. Microsoft disc operating system
D. Mechanical components of the computer

Question 45:

• WAEC 2009

Which of the following is a self-balancing account?

A. Capital
B. Interst on capital
C. Drawings
D. Share of profit