WAEC Accounting Past Questions & Answers - Page 120

597.

Which of the following does not belong to the group?

A.

A proprietor of a business

B.

An entrepreneur

C.

An investor

D.

A debtor

E.

A creditor

Correct answer is E

No explanation has been provided for this answer.

598.

A subsidiary record is a book

A.

Found in the ledger

B.

Of subsidiary entries

C.

Of original entry

D.

Containing the final accounts

E.

Of final entry

Correct answer is C

No explanation has been provided for this answer.

599.

The term bad debt means

A.

A debt written on bad receipts

B.

Debt owed by a bad person

C.

Debt that can not be collected

D.

Overcharge on a debtors account

E.

Debt paid with bad currency notes

Correct answer is C

No explanation has been provided for this answer.

600.

Factory cost consists of

A.

Direct material and factory overhead

B.

Direct labour and direct expenses

C.

Direct labour and factory overhead

D.

Direct materials, direct labour, direct expenses and factory overhead

E.

Direct expenses and factory overhead

Correct answer is D

No explanation has been provided for this answer.