WAEC Accounting Past Questions & Answers - Page 190

946.

A balance sheet is prepared

A.

For the year ended...........19 x 1

B.

For............19 x 1

C.

As to.............19 x 1

D.

In the year..............19 x 1

E.

Up to...........19 x 1

Correct answer is C

No explanation has been provided for this answer.

947.

Which of the following is an asset?

A.

Bad debt provision

B.

Rent in arrears

C.

Sales

D.

Accrued wages

E.

Insurance prepaid

Correct answer is E

No explanation has been provided for this answer.

948.

Carriage inwards are included on goods

A.

On display

B.

Sold

C.

In process

D.

Purchases

E.

On return

Correct answer is D

No explanation has been provided for this answer.

949.

The accountant general disburses government fund by the use of

A.

A voucher

B.

A warrant

C.

An estimate

D.

A vote

E.

A provision

Correct answer is B

No explanation has been provided for this answer.

950.

Which of the following is a source of the local government Revenue?

A.

Personal income tax

B.

Sales of armed forces property

C.

Repayment (state)

D.

Repayment (Interest and General)

E.

Market rates

Correct answer is E

No explanation has been provided for this answer.