WAEC Accounting Past Questions & Answers - Page 172

856.

Which of the following are examples of Nominal account?

A.

Land and insurance

B.

Cash and interest

C.

Building and cash

D.

Machinery and wages

E.

Rent and discount

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.

857.

The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. Bad debts is

A.

N910

B.

N650

C.

N637

D.

N377

E.

N260

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.

858.

The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. What is the provision for doubtful debts?

A.

N910

B.

N650

C.

N637

D.

N377

E.

N260

View answer & explanation

Correct answer is B

No explanation has been provided for this answer.

859.

The person who has applied for shares in a company is called

A.

Allotee

B.

Subscriber

C.

Promoter

D.

Shareholder

E.

Applicant

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.

860.

Which of the following is no part of prime cost of production?

A.

Cost raw materials

B.

Carriage on raw materials

C.

Direct expenses

D.

Direct wages

E.

Depreciation of factory equipment

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.

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