Waec Accounts - Principles of Accounts 2018 Past Questions and Answers

Question 1:

• WAEC 2018

a) What is Goodwill?
b) Conditions under which Goodwill is valued in a Partnership
c) Contents of a partnership agreement

Question 2:

• WAEC 2018

(a) Objectives of Financial Accounting
(b)Characteristics of good accounting information
(c) Users of accounting information and their interests

Question 3:

• WAEC 2018

1. What is depreciation?
2. What factors determine depreciation charges?
3. Reasons for providing depreciation

Question 4:

• WAEC 2018

1) Differentiate between Public sector accounting and Private sector accounting
2) Sources of revenue for a local government
3) Items of expenditure of a local government