2017 WAEC SSCE Accounts Past Questions

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2017

Dauda, a retailer, does not keep proper books of account. The following were balances in his books on January 2013.Premises 70,000 Equipment 8,200 Vehicles 5,100 Inventory 9,500 Accounts receivable…

2017

Idayah Limited is a manufacturing company. The following balances were extracted from its records on 31st December 2014.Stock on 01/01/2014 Le Raw materials-------------------56,000 Work-in-progress-------…

2017

The trial balance of Deba Duwa Enterprise failed to agree. The difference was entered in the suspense account. The following errors were later detected:i. A sum of $1000 received from Salako has not been posted to his ac…

2017

(a) List the four main groups of accounting ratios(b) Identify accounting ratio which relates to each of the following statements i. a return of N10 net profit for every N100 invested ii. goods are held on average f…

2017

(a) Explain the following terms used in not-for-profit making organizations.i. Accumulated fund ii. Subscription in arrears iii. Receipts and Payment Accounts iv. Income and Expenditure Accounts v. Entrance fees(b) D…

2017

(a) What is a Bank Reconciliation Statement?(b) State three reasons for preparing a bank reconciliation statement(c) Explain the following terms: i. unpresented cheques ii. standing order iii.credit transfer

2017

(a) What is a source document?(b) List six types of source documents.(c) state three uses of subsidiary books

2017

(a) Explain some of the terms used in the accounts for not-for-profit making organizations(b) Distinguish between shares and debentures.

2017

(a) Accounting ratios(b) Eplain the following i. Accounting ratios ii. Current ratio iii. Rate of stock turnover iv. Return on capital employed v. Average collection period vi. Gross profit percentage(c) List out t…

2017

(a) What is a suspense Account(b) Differentiate between the following; (i) Provisions and Reserves (ii) Expenses and Revenue (iii) Capital reserves and Revenue reserves

2017

(a) Explain the following terms; i. Trade discount ii. Cash discount iii. Bad debts iv. provision for doubtful debts v. Bad debts recovered(b) Mention the errors that do not affect the agreement of the trial balance

2017

An amount set aside to meet expenses whose value is not certain is a

2017

A reserve is an amount

2017

Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…

2017

Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…

2017

Which of the following is not a method of charging goods to the branch by its head office?

2017

The accounting entries when goods are sold on credit at the branch are debit

2017

A branch that keeps its own records prepares the records of transactions with the head office in the

2017

2017 WAEC SSCE Accounts Past Questions

Dauda, a retailer, does not keep proper books of account. The following were balances in his books on January 2013.Premises 70,000 Equipment 8,200 Vehicles 5,100 Inventory 9,500 Accounts receivable…

Idayah Limited is a manufacturing company. The following balances were extracted from its records on 31st December 2014.Stock on 01/01/2014 Le Raw materials-------------------56,000 Work-in-progress-------…

The trial balance of Deba Duwa Enterprise failed to agree. The difference was entered in the suspense account. The following errors were later detected:i. A sum of $1000 received from Salako has not been posted to his ac…

(a) List the four main groups of accounting ratios(b) Identify accounting ratio which relates to each of the following statements i. a return of N10 net profit for every N100 invested ii. goods are held on average f…

(a) Explain the following terms used in not-for-profit making organizations.i. Accumulated fund ii. Subscription in arrears iii. Receipts and Payment Accounts iv. Income and Expenditure Accounts v. Entrance fees(b) D…

(a) What is a Bank Reconciliation Statement?(b) State three reasons for preparing a bank reconciliation statement(c) Explain the following terms: i. unpresented cheques ii. standing order iii.credit transfer

(a) What is a source document?(b) List six types of source documents.(c) state three uses of subsidiary books

(a) Explain some of the terms used in the accounts for not-for-profit making organizations(b) Distinguish between shares and debentures.

(a) Accounting ratios(b) Eplain the following i. Accounting ratios ii. Current ratio iii. Rate of stock turnover iv. Return on capital employed v. Average collection period vi. Gross profit percentage(c) List out t…

(a) What is a suspense Account(b) Differentiate between the following; (i) Provisions and Reserves (ii) Expenses and Revenue (iii) Capital reserves and Revenue reserves

(a) Explain the following terms; i. Trade discount ii. Cash discount iii. Bad debts iv. provision for doubtful debts v. Bad debts recovered(b) Mention the errors that do not affect the agreement of the trial balance

An amount set aside to meet expenses whose value is not certain is a

A reserve is an amount

Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…

Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…

Which of the following is not a method of charging goods to the branch by its head office?

The accounting entries when goods are sold on credit at the branch are debit

A branch that keeps its own records prepares the records of transactions with the head office in the

In departmental accounting, when goods are sent from one department to another for sale the transaction is treated as

The objective of a departmental accounts is to ascertain the

2017 WAEC SSCE Accounts Past Questions

Dauda, a retailer, does not keep proper books of account. The following were balances in his books on January 2013.Premises 70,000 Equipment 8,200 Vehicles 5,100 Inventory 9,500 Accounts receivable…

Idayah Limited is a manufacturing company. The following balances were extracted from its records on 31st December 2014.Stock on 01/01/2014 Le Raw materials-------------------56,000 Work-in-progress-------…

The trial balance of Deba Duwa Enterprise failed to agree. The difference was entered in the suspense account. The following errors were later detected:i. A sum of $1000 received from Salako has not been posted to his ac…

(a) List the four main groups of accounting ratios(b) Identify accounting ratio which relates to each of the following statements i.&nbsp;a return of N10 net profit for every N100 invested ii. goods are held on average f…

(a) Explain the following terms used in not-for-profit making organizations.i. Accumulated fund ii. Subscription in arrears iii. Receipts and Payment Accounts iv. Income and Expenditure Accounts v. Entrance fees(b) D…

(a) What is a Bank Reconciliation Statement?(b) State three reasons for preparing a bank reconciliation statement(c) Explain the following terms: i. unpresented cheques ii. standing order iii.credit transfer

(a) What is a source document?(b) List six types of source documents.(c) state three uses of subsidiary books

(a) Explain some of the terms used in the accounts for not-for-profit making organizations(b) Distinguish between shares and debentures.

(a) Accounting ratios(b) Eplain the following i. Accounting ratios ii. Current ratio iii. Rate of stock turnover iv. Return on capital employed v. Average collection period vi. Gross profit percentage(c) List out t…

(a) What is a suspense Account(b) Differentiate between the following; (i) Provisions and Reserves (ii) Expenses and Revenue (iii) Capital reserves and Revenue reserves

(a) Explain the following terms; i. Trade discount ii. Cash discount iii. Bad debts iv. provision for doubtful debts v. Bad debts recovered(b) Mention the errors that do not affect the agreement of the trial balance

An amount set aside to meet expenses whose value is not certain is a

A reserve is an amount

Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…

Use the following information to answer the question belowNzemaman Local Government incurred the following expenditure in the year 2015.Construction of market stalls 120,000 Staff salaries------------------- 40,000 Purc…

Which of the following is not a method of charging goods to the branch by its head office?

The accounting entries when goods are sold on credit at the branch are debit

A branch that keeps its own records prepares the records of transactions with the head office in the

In departmental accounting, when goods are sent from one department to another for sale the transaction is treated as

The objective of a departmental accounts is to ascertain the

(a) List the four main groups of accounting ratios(b) Identify accounting ratio which relates to each of the following statements i. a return of N10 net profit for every N100 invested ii. goods are held on average f…