Waec Accounts - Principles of Accounts Past Questions and Answers

Question 211:

• WAEC 1993

Which of the following is the most liquid?

A. Land and buildings
B. Cash at bank
C. Machinery
D. Goodwill
E. Furnitures and fittings

Question 212:

• WAEC 1993

Which of the following does not belong to the group?

A. Plant and machinery
B. Stock
C. Goodwill
D. Preliminary expenses
E. Overdraft

Question 213:

• WAEC 1993

A partner's drawing is debited to

A. Profit and loss appropriation account
B. Interest account
C. Loan account
D. Current account
E. Trading account

Question 214:

• WAEC 1993

Trade debts amounting to N300 were written off. Which of the following would be affected?

A. Purchases
B. Profit and losses
C. Creditors
D. Sales ledger
E. Trading account

Question 215:

• WAEC 1993

Debenture is a

A. Current asset
B. Fixed asset
C. Long term liability
D. Current liability
E. Tangible asset