Waec Accounts - Principles of Accounts 2019 Past Questions and Answers

Question 11:

• WAEC 2019

The partner whose liability goes beyond his capital is a

A. Nominal partner
B. General partner
C. Limited partner
D. Dormant partner

Question 12:

• WAEC 2019

An effect of increase in the provision for depreciation is

A. Decrease in gross profit
B. Increase in net profit
C. Increase in gross profit
D. Decrease in net profit

Question 13:

• WAEC 2019

Uncredited cheques refer to cheques not yet credited


A. In the cash book
B. By the bank
C. By the drawer
D. In the ledger

Question 14:

• WAEC 2019

Interim dividend paid in a year is

A. Debited to the Income Surplus Account/ Profit and Loss Appropriation Account
B. Credited to the Income Surplus Account Profit and Loss Appropriation Account
C. Debited to the Profit and Loss Account
D. Credited to the Profit and Loss Account

Question 15:

• WAEC 2019

A feature of government accounting is that the

A. Fixed assets are depreciated
B. Objective is to report profit made by the government
C. Accounts are prepared on accrual basis
D. Accounts are prepared on cash basis