by Sunday | Mar 19 | Accounting WAEC
A. Excel B. Word C. Internet D. Windows Correct Answer: Option A A. Excel Explanation A spreadsheet is a sheet of paper that shows accounting or other data in rows and columns; a spreadsheet is also a computer application program that simulates a physical spreadsheet...
by Sunday | Mar 19 | Accounting WAEC
A. Interest on capital B. Interest on drawings C. Share of profit D. Drawings Correct Answer: Option B B. Interest on drawings Explanation Interest on drawings is an expense to the partner, and hence it is credited to the profit and loss appropriation...
by Sunday | Mar 19 | Accounting WAEC
A. Accruals and prepayments are considered B. Debtors and creditors are recorded C. Fixed assets are written off in the year of purchase D. Profits are maximized Correct Answer: Option A A. Accruals and prepayments are considered Explanation The cash basis is a method...
by Sunday | Mar 19 | Accounting WAEC
A. Reserve expenditure warrant B. Supplementary general warrant C. Provisional general warrant D. Supplementary statutory warrant Correct Answer: Option B B. Supplementary general warrant Explanation Supplementary general warrant: This is the authority authorizing the...
by Sunday | Mar 19 | Accounting WAEC
A. Personal income tax B. Company registration fees C. Royalties D. Market tolls Correct Answer: Option D D. Market tolls Explanation Local revenue comes from property, sales, and other taxes; dues, fines, charges and fees; and transfers from federal and state...