Waec Accounts - Principles of Accounts 2013 Past Questions and Answers

Question 31:

• WAEC 2013

Use the following information to answer the given question
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120,000\\ \text{Salaries} & 60,000\\ \text{Maintenance of vehicles} & 49,000 \\ \text{Park collections} & 100,000\end{array}\)
The balance at the end of the period is

A. Le 270,000
B. Le 139, 000
C. Le 131,000
D. Le 120,000

Question 32:

• WAEC 2013

Use the following information to answer the given question
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120,000\\ \text{Salaries} & 60,000\\ \text{Maintenance of vehicles} & 49,000 \\ \text{Park collections} & 100,000\end{array}\)
The total expenditure for the period is

A. Le 319,000
B. Le 270,000
C. Le 139,000
D. Le 109,000

Question 33:

• WAEC 2013

Which of the following is not an item on the credit side of the purchases ledger control account?

A. Cash received
B. Cash payment
C. Contra settlement
D. Cheque payment

Question 34:

• WAEC 2013

When a business is purchased from a sole trader, the excess of the purchase price over the net assets is

A. Reserve
B. Goodwill
C. Feehold
D. Valuation price

Question 35:

• WAEC 2013

A set of instrument or programs which controls the operation of a computer is

A. Software
B. Hardware
C. Monitor
D. Keyboard