Study and practice Accounting past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
A medium of imputing data into the computer is through the use of the
Akeyboard
Bmonitor
Csoftware
Dhardware
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Question 362
waec2009
Which of the following is a self-balancing account?
Acapital
Binterst on capital
Cdrawings
Dshare of profit
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Question 363
waec2009
Hardware in data processing refers to
Aprograms runs on the computer
Bentry and storage of information on computer
Cmicrosoft disc operating system
Dmechanical components of the computer
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Question 364
waec2009
As evidence of payment to a government treasury, revenue collectors issue
Atreasury card
Breceipt voucher card
Ctreasury receipt
Dpayment voucher
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Question 365
waec2009
The depreciation on plant acquired by a manufacturing company is treated as
Aprime cost
Badministrative expenses
Cfactory overhead
Dselling and distribution expenses
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Question 366
waec2009
Use the following information to answer the given question
\(\begin{array}{c|c} & Dr & Dr & \text{Balance}\\ \hline & ₦ & ₦ & ₦ \\ \text{2/1/06 Balance b/d} & & & 2,000 \\ \text{3/1/06 '23456'} & 500 & & 1,500\\ \text{4/1/06 Deposit} & & 1,000 & 2,500\\ \text{5/1/06 Deposit} & & 1500 & 4,000\\ \text{6/1/06 '23457'} & 3,000 & & 1,000\end{array}\)
Total withdrawal is
A₦3,500
B₦2,500
C₦2,000
D₦1,000
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Question 367
waec2009
The authority of the Accountant-General to disburse from government fund is
Aprovision
Bwarrant
Cvote
Destimate
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Question 368
waec2009
Which of the following is found in a Sales Ledger Account?
Acredit purchases
Bbill payable
Cdiscount received
Ddiscount allowed
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Question 369
waec2009
Prepayment is treated in the balance sheet of firm as a
Afixed asset
Blong-term liability
Ccurrent asset
Dcurrent liability
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Question 370
waec2009
Which of the following are Personal Accounts? i. wages ii. debtors ii. creditors iv. buildings
Ai,ii and iii only
Bii and iii only
Cii and iv only
Diii and iv only
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Question 371
waec2009
An article cost N1,800 and is sold at a gross profit of 20% on selling price. What is the selling price?
A₦2,250
B₦2,160
C₦1,800
D₦1,440
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Question 372
waec2009
S. Sule sets aside from his private funds ₦20.000 is referred to as
Adrawings
Bcapital
Cloan
Dprofit
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Question 373
waec2009
In the balance sheet, the balance on the provision for Depreciation Account shown as
Aaddition to fixed assets
Bdeduction from fixed assets
Caddition to capital
Dduduction from current liabilies
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Question 374
waec2009
Which of the following is not part of the double entry system?
Atrading account
Bproffit and loss account
Cappropriation account
Dbalance sheet
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Question 375
waec2009
A service which a firm has enjoyed, but has not yet been paid for is
Aaccured expense
Bpreliminary expense
Cprepaid expense
Doverhead expense
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Question 376
waec2009
A motor car costing D100,000 was depreciated at 20% per annum by the diminishing balance method. Two years later, it was sold for D60,000. Using the information, the net book value at the time of sales is
AD 64,000
BD 60,000
CD 40,000
DD 36,000
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Question 377
waec2009
A motor car costing D100,000 was depreciated at 20% per annum by the diminishing balance method. Two years later, it was sold for D60,000. Using the information, the net profit or loss on the sale was
AD 40,000 profit
BD 4,000 profit
CD 4,000 loss
DD 40,000 loss
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Question 378
waec2009
Credit sales was debited to A. Akpan instead of B. Akpan. This is an error of
Aprinciple
Boriginal entry
Comission
Dcomission
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Question 379
waec2009
The petty cash book has
Aa debit balance only
Ba credit balance only
Ca nill balance only
Dboth debit and credit balances
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Question 380
waec2009
The authorized capital of city entertainment company is made up of 200,000 2\(\frac{1}{2}\)% preference shares of Le 60 each and 300,000 ordinary shares have been issued at Le 30 each and fully paid. All the preference dividend and recommended ordinary divided Le 0.10 per share. Using the following information, the value of the ordinary share capital to be stated in the balance sheet is
