Waec Accounts - Principles of Accounts 2019 Past Questions and Answers

Question 41:

• WAEC 2019

A quality of accounting information is that it should be


A. Profitable
B. Verifiable
C. Appreciable
D. Depreciable

Question 42:

• WAEC 2019

When the letter "C" is written in front of an entry in the folio column of a cash book, it shows a

A. Double entry
B. Cash entry
C. Contra entry
D. Journal entry

Question 43:

• WAEC 2019

To show the evidence of payment to a government ministry, the revenue collector issues a

A. receipt voucher
B. Payment voucher
C. Treasury receipt
D. Treasury card

Question 44:

• WAEC 2019

The primary concern of shareholders in a business is the

A. Ascertainment of taxable profit
B. Dividend payable
C. Ability to pay interest
D. Welfare of employees

Question 45:

• WAEC 2019

ln a not-for-profit organization, the accumulated fund is

A. Current assets plus fixed assets less total liabilities
B. Long-term liabilities plus current liabilities
C. Fixed assets plus current assets plus long-term liabilities
D. Fixed assets less long-term liabilities less current liabilities