Waec Accounts - Principles of Accounts Past Questions and Answers

Question 486:

• WAEC 1999

The total share capital which a company would be allowed to issue is known as

A. Issued share capital
B. Authorised share capital
C. Working capital
D. Fixed capital

Question 487:

• WAEC 1999

Creditors at start was N4,650 and at close N2,480, cash paid to suppliers during the year amounted to N12,000. Credit purchases for the year is valued at

A. N14,480
B. N12,000
C. N9,830
D. N7,130

Question 488:

• WAEC 1999

A sale of goods to audu was not posted. This is an error of

A. Omission
B. Compensation
C. Commission
D. Principle

Question 489:

• WAEC 1999

Into how many major types can general purpose computers be classified?

A. Six
B. Five
C. Four
D. Three

Question 490:

• WAEC 1999

Which of the following is nit a petty cash book item? purchase of

A. Machinery
B. Stamps
C. Office pins
D. Milk