Waec Accounting Past Questions
Question 1626
An item that would be considered a first charge against profit in a company's account is
- A. ordinary dividend
- B. preference dividend
- C. capital reserve
- D. general reserve
Question 1627
Use the following information to answer questions below| Le | |
| Raw materials: | |
| Stock (01/01/2017) | 822000 |
| Stock (31/12/2017) | 560000 |
| Purchases | 125000 |
| Returns of raw materials | 15000 |
- A. Le 402,000
- B. Le 947,000
- C. Le 932,000
- D. Le 372,000
Question 1628
Use the following information to answer questions below| Le | |
| Raw materials: | |
| Stock (01/01/2017) | 822000 |
| Stock (31/12/2017) | 560000 |
| Purchases | 125000 |
| Returns of raw materials | 15000 |
- A. Le 372,000
- B. Le 932,000
- C. Le 947,000
- D. Le 402,000
Question 1629
The principal book of account where accounts are classified and summarized is
- A. balance sheet
- B. ledger
- C. trial balance
- D. journal
Question 1630
Books of accounts are opened by the use of
- A. balance sheet
- B. general ledger
- C. general journal
- D. trial balance
