Waec Accounting Past Questions For Year 2022
Question 16
An item that would be classified as preliminary expenses in a company's account is
- A. formation expenses
- B. administrative expenses
- C. distribution expenses
- D. general expenses
Question 17
Use the following information to answer questions below Bola a grocer, keep petty cash on imprest system, the float being GH⊄ 8,000. These transactions took place in January 2018.| GH⊄ | ||
| January 1 | Petty cash in hand | 1034 |
| January 1 | Petty cash to restore float | 6966 |
| January 6 | Bought note books | 656 |
| January 7 | Paid wages | 1828 |
| January 14 | Bought postage stamps | 750 |
| January 16 | Paid to Biodun a creditor | 1072 |
| January 18 | Paid wages | 1856 |
| January 23 | Purchased envelopes | 874 |
| January 28 | Purchased postage stamps | 420 |
- A. GH⊄ 6,928
- B. GH⊄ 6,966
- C. GH⊄ 7,456
- D. GH⊄ 8,000
Question 18
The accounting concept which states that expenditure involving insignificant amounts should be regarded as expenses and not assets is
- A. dual aspect concept
- B. realization concept
- C. materiality concept
- D. business entity concept
Question 19
Provision for doubtful debts is made in conformity with
- A. business entity concept
- B. money measurement concept
- C. prudence concept
- D. materiality concept
Question 20
Use the following information to answer questions below| $ | |
| Cash book balance (credit) | 750 |
| Uncredited cheques | 500 |
| Unpresented cheques | 1680 |
| Direct credit | 300 |
| Bank charges | 150 |
- A. $ 580 Cr.
- B. $ 430 Dr.
- C. $ 430 Cr.
- D. $ 1,480 Cr.
