Waec Accounting Past Questions For Year 2013
Question 16
The accumulative fund of a non-for-profit making organization is
- A. consistency concept
- B. realization concept
- C. going concern concept
- D. business entity concept
Question 17
Reserves account is kept in the
- A. private ledger
- B. creditors ledger
- C. nominal ledger
- D. debtors ledger
Question 18
Which of the following is a nominal account?
- A. machinery account
- B. drawings account
- C. debtors account
- D. wages account
Question 19
Which of the following accounts has credit balance?
- A. return inwards account
- B. machinery account
- C. sales account
- D. cash account
Question 20
The minimum number of persons required to form a partnership business is
- A. 2
- B. 3
- C. 5
- D. 10
