WAEC Past Questions and Answers - Page 1026

5,126.

Carriage inwards are included on goods

A.

On display

B.

Sold

C.

In process

D.

Purchases

E.

On return

Correct answer is D

No explanation has been provided for this answer.

5,127.

The accountant general disburses government fund by the use of

A.

A voucher

B.

A warrant

C.

An estimate

D.

A vote

E.

A provision

Correct answer is B

No explanation has been provided for this answer.

5,128.

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

A.

Personal income tax

B.

Sales of armed forces property

C.

Repayment (state)

D.

Repayment (Interest and General)

E.

Market rates

Correct answer is E

No explanation has been provided for this answer.

5,129.

Opening stock + Purchases + carriage inwards is equal to

A.

Total sales

B.

Cost of goods sold

C.

Cost of goods available for sale

D.

Gross profit

E.

Prime cost

Correct answer is C

No explanation has been provided for this answer.

5,130.

Which of the following is the least liquid?

A.

Stock

B.

Debtors

C.

Bills receivable

D.

Payment machinery

Correct answer is D

No explanation has been provided for this answer.