WAEC Accounting Past Questions & Answers - Page 133

661.

Which of the following is related to debtors account?

A.

Purchases ledger

B.

General ledger

C.

Norminal ledger

D.

Sales ledger

E.

Private ledger

Correct answer is D

No explanation has been provided for this answer.

662.

Reccurrent expenditure of government is paid from

A.

Reserved fund

B.

Consolidated revenue fund

C.

Development fund

D.

Contigencies fund

E.

Personal fund

Correct answer is B

No explanation has been provided for this answer.

663.

In government imprest system the amount reimbursed is the

A.

Actual amount spent

B.

Amount of the float

C.

Amount spent above the float

D.

Balance of the float

E.

Sum of unreceipted vouchers

Correct answer is B

No explanation has been provided for this answer.

664.

Preliminary expenses of a limited liability company are

A.

Fixed assets

B.

Current assests

C.

Fictitious assets

D.

Fictitious liability

E.

Current liability

Correct answer is C

No explanation has been provided for this answer.

665.

When shares are oversubscribed, the promoter nay decide to scale down the number of shareholding when this is done, the shares are being

 

A.

Forfeited

B.

Issued at a discount

C.

Issued on prorate

D.

Issued at par

E.

Issued at a premium

Correct answer is C

No explanation has been provided for this answer.