2016 WAEC SSCE Accounts Past Questions

2016

The following information was extracted from the books of Daudu Manufacturing company for the year ended 31st December 2012.Stock of goods 1st January 2012: Raw materials------------------8,000 Finished goods------------…

2016

The following information relates to the books of accounts of Adom Ltd. Trading, profit, and loss account for the year ended 31st December 2014opening stock 20,000 purchase 16…

2016

The following is the receipt and payments account of Kayode social club for the year ended 31st December 2014.Receipts and payments for the year ended 31st December 2014 N…

2016

Momoh enterprise cashbook showed a debit balance of Le4,500 on December 31, 2014. Further examination revealed the following:- A direct debit of Le350 for subscription had been paid by the bank - Bank charges of Le500 ha…

2016

What is a general journal?State six uses of the general journal

2016

(a) What is depreciation of an asset?(b) List three causes of depreciation.(c) Explain the following methods of depreciation:(i) straight line; (ii) reducing balance; (iii) revaluation.

2016

(a) Outline three distinguished features of public and private companies.(b) State three rights available to an ordinary shareholder.

2016

(a) List four items each that are found on the (i) credit side of the sales ledger control account; (ii) debit side of the purchases ledger control account.(b) List seven types of errors a trial balance will not reveal.

2016

Which of the following errors will affect the agreement of the trial balance?

2016

The financial statement which is an expression of the accounting equation is the

2016

When a fixed asset is disposed off, the accounting entries to write off the asset are Debit

2016

Debts that a firm is unable to recover are debited to bad debts account and credited to

2016

A loan to a company under the company's seal is

2016

Assets which are readily convertible into cash are termed as

2016

In the purchase of a business, a buyer has paid more than the value of the net assets of the business. The excess payment is referred to as

2016

Which of the following expenses is apportioned between departments based on sales?

2016

The total of the discounts received column in the three column cash book is

2016

The transfer of money from one sub-head to another in the public sector is

2016

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

2016

The cost of goods returned by branch to head office is debited

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