WAEC Past Questions and Answers - Page 964

4,816.

In a not-for-profit making organization, the cash book is summarized in the form of

A.

balance sheet

B.

income and expenditure account

C.

receipts and expenditure account

D.

receipts and pryments account

Correct answer is D

No explanation has been provided for this answer.

4,817.

A control account is

A.

an imprest system

B.

a statement of affairs

C.

a bank reconciliation statement

D.

a self balancing ledger system

Correct answer is D

No explanation has been provided for this answer.

4,819.

In a professional partnership, membership must be between

A.

2 and 8

B.

2 and 10

C.

2 and 50

D.

2 and any number

E.

2 and 20

Correct answer is C

No explanation has been provided for this answer.

4,820.

Impersonal real accounts include:
i. expenditure on telephone 
ii. motor vehicles 
iii. expenses on telegram 
iv. land and buildings

A.

i and iii

B.

iii and iv

C.

ii and iv

D.

i, ii and iii

E.

i, ii, iii and iv

Correct answer is C

No explanation has been provided for this answer.