Waec Accounting Past Questions For Year 2014
Question 36
Which of the following information is recorded in the returns outwards book?
- A. goods purchased on credit and susequently returned to suppliers
- B. fixed asset bought on credit and subsequently returned to supplier
- C. cash payment received from a customer and subsequently returned to supplier
- D. goods sold to a customer and subsequently returned to the business
Question 37
The accounting concept which states that expenditure involving insignificant amounts should be regarded as expenses and not assets is
- A. business entity
- B. materiality
- C. dual aspect
- D. realization
Question 38
An example of input devices of a computer is
- A. an optical character reader
- B. a graph plotter
- C. a visual display unit
- D. a printer
Question 39
Which of the following is not a factory overhead cost?
- A. manufacturing wages
- B. factory rent
- C. depreciation of machinery
- D. salary of factory guard
Question 40
A manufacturing account is drawn up by
- A. firms providing personal services
- B. firms engaged solely in buying and selling of goods
- C. firms which makes and sell articles
- D. non-trading organization
