by Sunday | Aug 19 | Accounting WAEC
A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. How much is charged to the profit and loss account for 1990? A. N1,350 B. N1,080 C. N338 D. N270 E. N90 Correct Answer: Option B –...
by Sunday | Aug 19 | Accounting WAEC
A. a discount B. a profit C. a loss D. par E. a premium Correct Answer: Option E – a premium
by Sunday | Aug 19 | Accounting WAEC
A. cash book B. purchases day book C. sales day book D. journal paper E. purchases ledger Correct Answer: Option E – purchases ledger
by Sunday | Aug 19 | Accounting WAEC
A. commission B. omission C. original entry D. principle E. compensation Correct Answer: Option D – principle
by Sunday | Aug 19 | Accounting WAEC
A. assets and liabilities amount to capital B. capital less assets amount to liabilities C. assets less liabilities amount to capital D. capital and assets amount to liability E. fixed assets and current liabilities amount to capital Correct Answer: Option C –...
by Sunday | Aug 19 | Accounting WAEC
A. turnover B. prime cost C. gross profit D. overhead cost Correct Answer: Option B – prime cost