Waec Accounts - Principles of Accounts 2013 Past Questions and Answers

Question 26:

• WAEC 2013

Agreement between partners is contained in the partnership

A. Act
B. Deeds
C. Accord
D. Deal

Question 27:

• WAEC 2013

a low current ratio in business indicates that the business is

A. Long term loan repayment problem
B. Efficient in the utilization of its resources
C. Unable to pay its bills on time
D. Growing its net assets effectively

Question 28:

• WAEC 2013

Which of following is a recurrent expenditure in public sector accounting?

A. Purchase of vehicles
B. Purchase of drugs
C. Construction of bore holes
D. Construction of buildings

Question 29:

• WAEC 2013

In departmental accounts, administrative expenses are recorded in the

A. Trading account
B. Balance sheets
C. Profit and loss account
D. Profit and loss appropriation account

Question 30:

• WAEC 2013

The public account committee is an organ of

A. Military regime
B. Parliament regime
C. Precidency
D. Councilors