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Accounting Past Questions

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1,757 questions JAMB 1611 WAEC 1757 CUSTOM 2

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1,757 questions

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Question 291

waec 2012

Use the following information to answer the given question
\(\begin{array}{c|c} & Le\\ \hline \text{Construction and hospital wards} & 300,000\\ \text{purchase of hospital beds} & 40,000 \\ \text{salaries and wages}& 80,000\\ \text{Purchase of drugs} & 55,000\\ \text{purchases of x-ray machine} & 150,000\end{array}\)
Capital expenditure for the year was

ALe 545,000

BLe 490,000

CLe 450,000

DLe 300,000

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Question 292

waec 2012

Use the following information to answer the given question
\(\begin{array} {c|c} & D \\ \hline \text{Cash in hand}& 1,440\\ \text{Cash at bank} & 2440\\ \text{Stock} & 2,500\\ \text{Furniture and fittings} & 2,200 \\ \text{Creditors} & 1,000\end{array}\)
The liability is

AD7,580

BD6,580

CD5,380

DD1,000

View Explanation & Discuss

Question 293

waec 2012

Use the following information to answer the given question
\(\begin{array}{c|c} & D \\ \hline \text{Cash in hand}& 1,440\\ \text{Cash at bank} & 2440\\ \text{Stock} & 2,500\\ \text{Furniture and fittings} & 2,200 \\ \text{Creditors} & 1,000\end{array}\)
The capital is

AD1,440

BD6,580

CD5,380

DD1,000

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Question 294

waec 2012

A loss made on the disposal of a fixed assets is debited to

Asales account

Bpurchases account

Cprofit and loss account

Dcapital account

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Question 295

waec 2012

Which of the following is not an item in the profit and loss account?

Adrawings

Binterest

Csalaries

Dbad debts

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Question 296

waec 2012

Which of the following is not a revenue to a local government?

Afines

Blicenses

Cpersonal ncome tax

Dtenement rates

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Question 297

waec 2012

Administrative, selling and distribution expenses in a manufacturing firm are recorded in

Atrasing acccount

Bmanufacturing account

Cprofit and loss account

Dbalance sheet

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Question 298

waec 2012

An underwriter for a company's share is paid

Ainterest

Bcommision

Cdividend

Dsalary

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Question 299

waec 2012

Which of the following is a form of memorandum of association

Anames of directors

Bappointment of directors

Cobject of the business

Dpayment of dividend

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Question 300

waec 2012

The double entry to record the proceeds on disposal of assets in debit

Abank account; credit asset disposal account

Basset disposal account; credit bank account

Cprovision for depreciation account; credit asset disposal account

Dasset disposal account; credit provision for depreciation account

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Question 301

waec 2012

Which of the following is not part of the central processing unit of a computer?

Aarithmetical and lgical unit

Bmemory unit

Cinput unit

Dcontrol unit

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Question 302

waec 2012

Which of the following is not the purpose of a control account?

Acheck on errors of addition

Blocate errors

Clocate missing figures

Dmonitor the cash book

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Question 303

waec 2012

The excess of value of assets over the purchase consideration on acquisition of a business is credited to

Ashare capital account

Bgoodwill account

Ccapital reserved account

Dgeneral reverse account

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Question 304

waec 2012

Which of the following errors affects the agreement of a Trial balance?

Awrong addition in the sales account

Bcrediting a purchase to the sales account

Cfailure to enter sales in the books

Dposting the purchase of a van to the debit side of the purhases account

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Question 305

waec 2012

Share of ₦3 nominal value were issued at a price ₦4. The difference of ₦1 is a

Acommision

Bdiscount

Cpremium

Dbonus

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Question 306

waec 2012

An increases in the provision for doubtful debts results is a\an

Aincrease in the gross profit

Bdecrease in the gross profit

Cdecrease in the net profit

Dincrease in the net profit

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Question 307

waec 2012

The sales ledger control account is also referred to as

Abought ledger control account

Bpurchases account

Ctotal debtors account

Dtotal creditor account

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Question 308

waec 2012

Which of the following is not found in the personal ledger?

Adebtors account

Bcreditors account

Ccapital account

Dnominal account

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Question 309

waec 2012

If creditors at 1\1\10 were Le 3,000; creditors at 31/12/10 Le 5,500 and payments to creditors Le 29,000. The purchases figure for 2010 is

ALe 34,500

BLe 32,000

CLe 31,500

DLe 26,500

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Question 310

waec 2012

Partners whose liabilities are restricted to their financial contribution to the partnership in the event of winding up are

Aordinary partners

Blimited partners

Cdormant partners

Dsleeping partners

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