WAEC Accounting Past Questions & Answers - Page 284

1,416.

A book that contains the account for the financial transactions of an organizations is the 

A.

Journal

B.

Ledger

C.

Folio

D.

Register

Correct answer is B

No explanation has been provided for this answer.

1,417.

Public sector accounting is practiced in

A.

Public limited companies

B.

Government organization

C.

Profit making organization

D.

Public trainging company

Correct answer is B

No explanation has been provided for this answer.

1,418.

A system where a separate cash book is maintained for small payments is

A.

Single entry

B.

Imprest

C.

Float

D.

Reimbursement

Correct answer is B

No explanation has been provided for this answer.

1,419.

The depreciation method in which the number of years of the useful life of an asset is allocated in a reverse order is

A.

Straight line

B.

Reducing balance

C.

Sum of the yeara; digits

D.

Revaluation

Correct answer is C

No explanation has been provided for this answer.

1,420.

The art of collecting, recording, presenting and interpreting accounting data is

A.

Cost accounting

B.

Management accounting

C.

Financial accounting

D.

Data processing

Correct answer is C

No explanation has been provided for this answer.