WAEC Past Questions and Answers - Page 1095

5,471.

The document which authorizes the Minister of Finance to release fund for government expenditure is

A.

A warrant

B.

A bank cheque

C.

An order

D.

A vote book

Correct answer is A

No explanation has been provided for this answer.

5,473.

A reserve is an amount

A.

To be paid to creditors

B.

Set out of profit for future use

C.

For paying dividends

D.

Recovered from debts earlier written off

Correct answer is B

No explanation has been provided for this answer.

5,474.

Which of the following is used in locating errors in the ledger?

A.

Trading account

B.

Trial balance

C.

Control account

D.

Journal proper

Correct answer is C

No explanation has been provided for this answer.

5,475.

Which of the following items is not shown in the Trial Balance

A.

closing stock value

B.

opening stock balance

C.

opening debtors balance

D.

closing asset value

Correct answer is A

No explanation has been provided for this answer.