Waec Accounts - Principles of Accounts Past Questions and Answers

Question 206:

• WAEC 1993

Purchases in accounting refers to goods bought for

A. Repairs
B. Owner's use
C. Resale
D. Decorating offices
E. Permanent use

Question 207:

• WAEC 1993

which of the following is not a Nominal Account?

A. Rent
B. Wages
C. Discount
D. Land
E. Interest

Question 208:

• WAEC 1993

The amount of individual items on a government budget is called

A. A vote
B. A deposit
C. A investment
D. A loan
E. A grant

Question 209:

• WAEC 1993

Which of the following does not belong to the group?

A. Discount allowed
B. Salaries and wages
C. Sundry expenses
D. Rates and rent
E. Return inwards

Question 210:

• WAEC 1993

Interest on Johnson's drawing is

A. N500
B. N300
C. N200
D. N150
E. N100