WAEC Past Questions and Answers - Page 991

4,951.

A payment of N150 to a credit

A.

An increase in assets only

B.

A reduction of assets only

C.

A reduction in assets and liabilities

D.

An increase in assets and liabilities

E.

A reduction in the bank account

View answer & explanation

Correct answer is C

No explanation has been provided for this answer.

4,952.

Which of the following are examples of Nominal account?

A.

Land and insurance

B.

Cash and interest

C.

Building and cash

D.

Machinery and wages

E.

Rent and discount

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.

4,953.

The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. Bad debts is

A.

N910

B.

N650

C.

N637

D.

N377

E.

N260

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.

4,954.

The total debtors account of a trading concern is N13,000. Out of this 2 percent is irrecoverable; 5 percent of the balance is unlikely to be collected. What is the provision for doubtful debts?

A.

N910

B.

N650

C.

N637

D.

N377

E.

N260

View answer & explanation

Correct answer is B

No explanation has been provided for this answer.

4,955.

The person who has applied for shares in a company is called

A.

Allotee

B.

Subscriber

C.

Promoter

D.

Shareholder

E.

Applicant

View answer & explanation

Correct answer is E

No explanation has been provided for this answer.


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