WAEC Accounting Past Questions & Answers - Page 226

1,126.

The capital of not-for profit making organization is

A.

Capital reserve fund

B.

Accumulated fund

C.

Endowment fund

D.

Development fund

Correct answer is B

No explanation has been provided for this answer.

1,127.

Pending the location of an error, the difference disclosed in a trial balance is temporarily treated in

A.

suspense Account

B.

trading account

C.

control account

D.

profit and loss account

Correct answer is A

No explanation has been provided for this answer.

1,128.

Which of the following is not a source document?

A.

credit note

B.

invoice

C.

debit note

D.

bank note

Correct answer is D

No explanation has been provided for this answer.

1,130.

Rent receivable account is an example of

A.

norminal account

B.

real account

C.

personal account

D.

private account

Correct answer is A

No explanation has been provided for this answer.