Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1346:

• WAEC 1996

Which of the following is no part of prime cost of production?

A. Cost raw materials
B. Carriage on raw materials
C. Direct expenses
D. Direct wages
E. Depreciation of factory equipment

Question 1347:

• WAEC 1996

The person who has applied for shares in a company is called

A. Allotee
B. Subscriber
C. Promoter
D. Shareholder
E. Applicant

Question 1348:

• WAEC 1996

The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. What is the provision for doubtful debts?

A. N910
B. N650
C. N637
D. N377
E. N260

Question 1349:

• WAEC 1996

The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. Bad debts is

A. N910
B. N650
C. N637
D. N377
E. N260

Question 1350:

• WAEC 1996

Which of the following are examples of Nominal account?

A. Land and insurance
B. Cash and interest
C. Building and cash
D. Machinery and wages
E. Rent and discount