Waec Accounts - Principles of Accounts 2011 Past Questions and Answers

Question 46:

• WAEC 2011

The concept which states that assets are not to be recorded at their current market value is

A. Money measuremen
B. Materiality
C. Cost
D. Entity

Question 47:

• WAEC 2011

Provision for depreciation on delivery van is charged to

A. Trading account
B. Profit and loss account
C. Appropriation account
D. Manufacturing account