WAEC Past Questions and Answers - Page 966

4,826.

A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. The amount carried in the Balance Sheet is classified as

A.

Current asset

B.

Current liabilities

C.

Investment

D.

Fictitious asset

E.

Reserve

View answer & explanation

Correct answer is A

No explanation has been provided for this answer.

4,827.

A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. How much is carried in the Balance Sheet at 31st December 1990?

A.

N1,350

B.

N1,080

C.

N338

D.

N270

E.

N90

View answer & explanation

Correct answer is D

No explanation has been provided for this answer.

4,828.

A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. How much is charges to the profit and loss account for 1990?

A.

N1,350

B.

N1,080

C.

N338

D.

N270

E.

N90

View answer & explanation

Correct answer is B

No explanation has been provided for this answer.

4,829.

Adex Company Limited issued ordinary shares N1 each to the public at N1.20. The statement were issued at

A.

A discount

B.

A profit

C.

A loss

D.

Par

E.

A premium

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.

4,830.

Abdul paid off his indebtedness to John by cash. The accounting entries in Abdul's books are: debt

A.

Cash account, credit John's account

B.

Cash account, credit debtors account

C.

John's account, credit cash account

D.

John's account, credit bank account

E.

Abdul's account, credit John's account

View answer & explanation

Correct answer is C

No explanation has been provided for this answer.

WAEC Subjects

English Language

Agricultural Science

Physical Education

Further Mathematics

Literature in English

Islamic Religious Knowledge

Christian Religious Knowledge

Office Practice

Civic Education

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