Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1076:

• WAEC 2011

When shares are issued to the public and the issuing company has not requested for payments, it is referred to as

A. Authorized capital
B. Paid-up capital
C. Uncalled capital
D. Unissued capatal

Question 1077:

• WAEC 2011

The diagrammatic representation of the workings of the computer program is

A. Flow chart
B. Desktop
C. Keyboard
D. Byte

Question 1078:

• WAEC 2011

Use the following information to answer the given question.
OGOGO'S SALES LEDGER LEDGER CONTROL ACCOUNT
\(\begin{array}{c|c} & D & & D \\ \text{Balance b/d} & 25,180 & \text{Discount allowed} & 1,936 \\ \text{Sales} & 43,220 & \text{Sales returns} & 1,884\\ \text{Dishonored cheque} & 542 & \text{Cash received from customers} & xxx \\ & & \text{Balance c\d} & 5,122 \\ & \overline{68,942} & & \overline{68,942} \end{array}\)
Net sales is

A. D41,878
B. D41,336
C. D41,284
D. D39,400

Question 1079:

• WAEC 2011

Use the following information to answer the given question.
OGOGO'S SALES LEDGER LEDGER CONTROL ACCOUNT
\(\begin{array}{c|c} & D & & D \\ \text{Balance b/d} & 25,180 & \text{Discount allowed} & 1,936 \\ \text{Sales} & 43,220 & \text{Sales returns} & 1,884\\ \text{Dishonored cheque} & 542 & \text{Cash received from customers} & xxx \\ & & \text{Balance c\d} & 5,122 \\ & \overline{68,942} & & \overline{68,942} \end{array}\)
the total cash received from customer is

A. D68,942
B. D60,000
C. D43,220
D. D41,336

Question 1080:

• WAEC 2011

The process of recording financial transactions of government is

A. Management accounting
B. Financial accounting
C. Cost accounting
D. Public sector accounting