Waec Accounts - Principles of Accounts 2010 Past Questions and Answers

Question 41:

• WAEC 2010

The collection and organization of data is

A. Accounting process
B. Central processing
C. Data processing
D. Data manipulation

Question 42:

• WAEC 2010

On 1/7/07, a trader owed wages of Le 2,000. During the year ended 30/6/08, wages of Le 2,400 were owed and Le 8,000 were paid. Using the information, wages recorded in the balance sheet as at 30/6/08 is

A. Le 12,400
B. Le 6,000
C. Le 2,400
D. Le 2,000

Question 43:

• WAEC 2010

Money received from a customer is recorded in the customer's account and bank account; the accounting concept applied is

A. Business entity
B. Dual aspect
C. Going-concern
D. Money measurement

Question 44:

• WAEC 2010

The amount for which a business is sold is that

A. Goodwill
B. Cosiderated fund
C. Purchase
D. Considerations
E. Capital reserve