Waec Accounting Past Questions For Year 2016
Question 21
Which of the following would result from an increase in the provision for doubtful debts?
- A. A Decrease in gross profit
- B. A decrease in net profit
- C. An increase in gross profit
- D. An increase in net profit
Question 22
Use the following information to answer this questions.
Rent prepaid - 1/01/2014 - N600
Rent paid - 31/12/2014 - N3,000
Rent prepaid - 31/12/2014 - N400.
The balance sheet as at 31st December 2014 will show
- A. Current asset of N600
- B. Current asset of N400
- C. Current liability of N400
- D. Current asset of N600
Question 23
Which of the following is a credit item in an income and expenditure account?
- A. Electricity
- B. Donations
- C. Stationery
- D. Bar suppliers
Question 24
Offei, a petty trader sold goods for GH¢36,240. The gross profit being 33\(\frac{1}{3}\)% on cost. What was the cost price?
- A. GH¢45,300
- B. GH¢28,992
- C. GH¢27,180
- D. GH¢24,160
Question 25
Use the following information to answer this question.
Cash purchase - D 29,641
Creditors 1/1/14 - D 2,473
Creditors 31/12/14 - D 3,117
Cash paid to creditors - D 127,345
Discount received - D 4,211
The total purchases is
- A. D 161,841
- B. D 156,986
- C. D 134,673
- D. D 132,200
