Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1481:

• WAEC 2019

The concept which seeks to prevent profits from being overstated is

A. Materiality
B. Consistency
C. Prudence
D. Periodicity

Question 1482:

• WAEC 2019

A quality of accounting information is that it should be


A. Profitable
B. Verifiable
C. Appreciable
D. Depreciable

Question 1483:

• WAEC 2019

When the letter "C" is written in front of an entry in the folio column of a cash book, it shows a

A. Double entry
B. Cash entry
C. Contra entry
D. Journal entry

Question 1484:

• WAEC 2019

To show the evidence of payment to a government ministry, the revenue collector issues a

A. receipt voucher
B. Payment voucher
C. Treasury receipt
D. Treasury card

Question 1485:

• WAEC 2019

The primary concern of shareholders in a business is the

A. Ascertainment of taxable profit
B. Dividend payable
C. Ability to pay interest
D. Welfare of employees