Waec Accounts - Principles of Accounts Past Questions and Answers

Question 981:

• WAEC 2009

Which of the following are Personal Accounts? i. wages ii. debtors ii. creditors iv. buildings

A. I,ii and iii only
B. Ii and iii only
C. Ii and iv only
D. Iii and iv only

Question 982:

• WAEC 2009

Prepayment is treated in the balance sheet of firm as a

A. Fixed asset
B. Long-term liability
C. Current asset
D. Current liability

Question 983:

• WAEC 2009

Which of the following is found in a Sales Ledger Account?

A. Credit purchases
B. Bill payable
C. Discount received
D. Discount allowed

Question 984:

• WAEC 2009

The authority of the Accountant-General to disburse from government fund is

A. Provision
B. Warrant
C. Vote
D. Estimate

Question 985:

• WAEC 2009

Use the following information to answer the given question
\(\begin{array}{c|c} & Dr & Dr & \text{Balance}\\ \hline & ₦ & ₦ & ₦ \\ \text{2/1/06 Balance b/d} & & & 2,000 \\ \text{3/1/06 '23456'} & 500 & & 1,500\\ \text{4/1/06 Deposit} & & 1,000 & 2,500\\ \text{5/1/06 Deposit} & & 1500 & 4,000\\ \text{6/1/06 '23457'} & 3,000 & & 1,000\end{array}\)
Total withdrawal is

A. ₦3,500
B. ₦2,500
C. ₦2,000
D. ₦1,000