Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1451:

• WAEC 2019

An example of a nominal account is

A. Kofi and Ali Account
B. Plant and Machinery Account
C. Profit and loss account
D. Cash and bank account

Question 1452:

• WAEC 2019

The partner whose liability goes beyond his capital is a

A. Nominal partner
B. General partner
C. Limited partner
D. Dormant partner

Question 1453:

• WAEC 2019

An effect of increase in the provision for depreciation is

A. Decrease in gross profit
B. Increase in net profit
C. Increase in gross profit
D. Decrease in net profit

Question 1454:

• WAEC 2019

Uncredited cheques refer to cheques not yet credited


A. In the cash book
B. By the bank
C. By the drawer
D. In the ledger

Question 1455:

• WAEC 2019

Interim dividend paid in a year is

A. Debited to the Income Surplus Account/ Profit and Loss Appropriation Account
B. Credited to the Income Surplus Account Profit and Loss Appropriation Account
C. Debited to the Profit and Loss Account
D. Credited to the Profit and Loss Account