Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1381:

• WAEC 2017

Which of the following is not a method of charging goods to the branch by its head office?

A. Net realizable value
B. Cost price
C. Cost-plus profit
D. Selling price

Question 1382:

• WAEC 2017

When allotment of shares is made applicants for shares of a company become

A. Promoters
B. Creditors
C. Debtors
D. Shareholders

Question 1383:

• WAEC 2017

The objective of a departmental accounts is to ascertain the

A. Number of staff in the department
B. Departmental performance
C. Stock held by the department
D. Departmental labour

Question 1384:

• WAEC 2017

In departmental accounting, when goods are sent from one department to another for sale the transaction is treated as

A. Interdepartmental transfer
B. Inter-departmental sales
C. Intra-departmental purchases
D. Intra-department sales

Question 1385:

• WAEC 2017

A branch that keeps its own records prepares the records of transactions with the head office in the

A. Branch Current Account
B. Branch Stock Account
C. Head Office Current Account
D. Profit and Loss Account