Waec Accounting Past Questions For Year 1999
Question 16
Deferred charges are also known as
- A. prepayment
- B. accrued expenses
- C. accruals
- D. deferred income
Question 17
Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is chike's share of profit from the partnership for the year ended 31/3/99 ?
- A. N8,500
- B. N7,000
- C. N5,500
- D. N4,500
Question 18
In-not-profit-making organizations, accumulated fund is the name for
- A. profit
- B. loss
- C. capital
- D. current assets
Question 19
Which of the following is the memory part that is available for use by the computer user?
- A. bits
- B. Ram
- C. Data
- D. ROM
Question 20
Which of the following is does not relate to a non-for-profit-making organization?
- A. Balance sheet
- B. receipt and payment account
- C. Ledger Accounts
- D. Profit and Loss Account
