Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1141:

• WAEC 2013

A petty cashier received a float of GHC 84. The imprest is

A. GHC 204
B. GHC 120
C. GHC 84
D. GHC 36

Question 1142:

• WAEC 2013

Which of the following is not a book of original entry?

A. Cash book
B. Purchases ledger returns
C. Returns outwards journal
D. General journal

Question 1143:

• WAEC 2013

Use the following information
\(\begin{array}{c|c} & ₦ \\ \hline \text{Net profit} & 60,000\\ \text{Total assets} & 520,000\\ \text{Current liabilities} & 150,000 \\ \text{Current assets} & 280,000 \end{array}\)
The current ratio is?

A. 1.87 : 1
B. 1 : 1.87
C. 1 : 2
D. 2 : 1

Question 1144:

• WAEC 2013

Use the following information to answer the question given
\(\begin{array}{c|c} & ₦ \\ \hline \text{Net profit} & 60,000\\ \text{Total assets} & 520,000\\ \text{Current liabilities} & 150,000 \\ \text{Current assets} & 280,000\end{array}\)
The capital employed is

A. ₦ 740,000
B. ₦ 580,000
C. ₦ 370,000
D. ₦ 280, 000

Question 1145:

• WAEC 2013

\(\begin{array}{c|c}
\text{Net profit} & 60,000 \\
\hline
\text{Total assets} & 520,000 \\
\hline
\text{Current liabilities} & 150,000 \\
\hline
\text{Currents assets} & 280,000 \\
\end{array}\)
The returns on capital employed is

A. 17.2%
B. 16.2%
C. 15.2%
D. 11.2%