Waec Accounts - Principles of Accounts 2017 Past Questions and Answers

Question 46:

• WAEC 2017

Customers use the financial position of a company to

A. Assess the financial position of the business
B. Regulate their activities
C. Ascertain the taxable profit of the business
D. Be sure of the extent of job security

Question 47:

• WAEC 2017

The claim on the assets of a business by outsiders is

A. Capital
B. Liabilities
C. Reserves
D. Provisions

Question 48:

• WAEC 2017

A document sent by a bank to its current account customers detailing their transactions over a given period is

A. Bank reconciliation statement
B. Bank statement
C. Credit transfer
D. Banker's advice

Question 49:

• WAEC 2017

Which of the following items will not be entered in the adjusted cash book?

A. Dishonoured cheques
B. Direct payments to bank
C. Uncredited cheques
D. Standing order payments

Question 50:

• WAEC 2017

If a petty cashier has a cash float of Le 39,000 and Le 37,500 is spent, he will be reimbursed with

A. Le 40,500
B. Le 39,000
C. Le 37,500
D. Le 1,500