Waec Accounts - Principles of Accounts 2021 Past Questions and Answers

Question 26:

• WAEC 2021

The petty cash account has an imprest of GH¢36,000 and a debit balance of GH¢10,000 at the end of the month.The reimbursement required would be

A. GH¢46,000
B. GH¢36,000
C. GH¢26,000
D. GH¢10,000

Question 27:

• WAEC 2021

Commercial activities undertaken by a social club to raise funds include

A. Donation
B. Bar
C. Grant
D. Subscription

Question 28:

• WAEC 2021

The final stage of accounting process is

A. Interpretation
B. Recording
C. Reporting
D. Summarizing

Question 29:

• WAEC 2021

The value of goods sent to a branch is debited to the

A. Goods sent to branch account
B. Branch debtors account
C. Branch adjustment account
D. Branch stock account

Question 30:

• WAEC 2021

The major source of revenue for central/federal government is

A. Tenement rate
B. Excise duty
C. Market toll
D. Parking roll