Waec Accounts - Principles of Accounts 2011 Past Questions and Answers

Question 6:

• WAEC 2011

The reduction in value of goodwill is

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

Question 7:

• WAEC 2011

Which of the following is not recorded in a partnership appropriation account?

A. Interest on capital
B. Partners drawings
C. Share of profit
D. Interest on drawings

Question 8:

• WAEC 2011

When a transaction is completely left out from the books, it is an error of

A. Commission
B. Omission
C. Principle
D. Compensation

Question 9:

• WAEC 2011

Which of the following is not a subsidiary book?

A. Sales day book
B. Purchases day book
C. General journal
D. Trial balance

Question 10:

• WAEC 2011

In departmental accounts, rent is appointed on the basis of

A. Purchases
B. Floor area occupied
C. Number of personnel in each department
D. Volume of sales