Waec Accounts - Principles of Accounts 2019 Past Questions and Answers

Question 46:

• WAEC 2019

(a) Give reasons for including outstanding liabilities in the Balance Sheet
(b) How do you record an income generating activity of a bar in a not-for-profit-making organization:

Question 47:

• WAEC 2019

(a) what are the sources of revenue to a federal government
(b) What are the advantages of cash basis in public sector accounting
(c) Mention five reasons for public sector accounting

Question 48:

• WAEC 2019

(a) What is a Ledger
(b) List out the uses of an invoice to the seller and the buyer
(c) Advantages of dividing the ledger into different classes

Question 49:

• WAEC 2019

What are the Limitations of ratio analysis

Question 50:

• WAEC 2019

Explain the following items and outline how they are treated in the final accounts:
(a) increase in provision for doubtful debts
(b) decrease in provision for doubtful debts
(c) provision for discount on debtors
(d) provision for discount on creditors
(e) provision for depreciation