Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1161:

• WAEC 2013

In departmental accounts, administrative expenses are recorded in the

A. Trading account
B. Balance sheets
C. Profit and loss account
D. Profit and loss appropriation account

Question 1162:

• WAEC 2013

The public account committee is an organ of

A. Military regime
B. Parliament regime
C. Precidency
D. Councilors

Question 1163:

• WAEC 2013

Use the following information to answer the given question
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120,000\\ \text{Salaries} & 60,000\\ \text{Maintenance of vehicles} & 49,000 \\ \text{Park collections} & 100,000\end{array}\)
The balance at the end of the period is

A. Le 270,000
B. Le 139, 000
C. Le 131,000
D. Le 120,000

Question 1164:

• WAEC 2013

Use the following information to answer the given question
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120,000\\ \text{Salaries} & 60,000\\ \text{Maintenance of vehicles} & 49,000 \\ \text{Park collections} & 100,000\end{array}\)
The total expenditure for the period is

A. Le 319,000
B. Le 270,000
C. Le 139,000
D. Le 109,000

Question 1165:

• WAEC 2013

Which of the following is not an item on the credit side of the purchases ledger control account?

A. Cash received
B. Cash payment
C. Contra settlement
D. Cheque payment