2020
Yallawa Stores Ltd has two departments. The following balances Were extracted from its books as at 31st December 2017.Purchases: Department A 720,000 Department B 520,000 Rent and rates…
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2020 WAEC SSCE Accounts Past Questions
2020
The following balances were extracted from the books of Abobakau Local Government for the year ended 31st December 2019.Construction of an office block ------ 3,850,000 Renovation of classroom blocks ----1,065,500 Court…
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2020
The books of Omiye Social Club showed the following information for the year ended 31st December 2015Balance 3000 subscription 130,000 proceeds from concert 9,000 interes…
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2020
The following transactions were extracted from the books of Odis Enterprises for the year ended 31st December 2018: 0) cash received from trade debtors N100,000i. cash paid to suppliers N72,000 ii. expenses paid during t…
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2020
(a) List; i. three books of accounts used In public sector accounting ii. four users of public sector accounting information.(b) State four differences between the private sector accounting and the public sector accoun…
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2020
(a) Explain the term fixed capital account.(b) State three conditions that would result in a change in the profit and loss sharing ratio of a partnership.(c) Outline three circumstances that would give rise to the creati…
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2020
(a)What is a not-for-profit making organization?(b) Outline two differences between a for-profit organization and a not-for-profit making organisation.(c) Explain the following sources of funding in a not-for-profit maki…
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2020
(a) Outline two differences between bookkeeping and accounting(b) List one source document used for each of the following transactions: i. sales ii. purchases iii. cash deposit iv. salary v. returns outwards(c) State thr…
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2020
A method of charging depreciation at a fixed percentage of the net book value is
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2020
The document which contains the internal regulations of a limited liability company is the
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2020
The excess of net assets acquired over purchase consideration is
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2020
Discount allowed N2,000; Bad debts 1,000 Cheque received from customers 24,000 Returns inwards 500; Sales ledger balance at the beginning 2.000The amount of sales is
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2020
Income received in advance is treated in the balance sheet as a
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2020
A computer set bought for150,000 was disposed of for N45,000 after some years of use. The profit on disposal was 7,500. Accumulated depreciation at the time of disposal was
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2020
The internal users of accounting information are the
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2020
The accounting equation of a businessshows the
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2020
A business extracted its trial balance and discoveredthat the total of the credit side exceeded the total of the debit side. Pending further investigation, the difference would be
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2020
The concept that guides a firm to adopt a regular method of recording transactions in its books over a period is
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2020
An example of a real account is
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2020
A partner who contributes capital but does not participate in the day-to-day running of the business is
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