Waec Accounts - Principles of Accounts 2013 Past Questions and Answers

Question 46:

• WAEC 2013

Stock account is a type of

A. Nominal account
B. Personal account
C. Real account
D. Fixed assets account

Question 47:

• WAEC 2013

Excess of current assets over current liabilities is

A. Deferred capital
B. Nominal capital
C. Working capial
D. Authorized capital

Question 48:

• WAEC 2013

a statement showing a trader's financial position as at a particular date is an

A. Trading account
B. Profit and loss account
C. Balance sheet
D. Appropriation account