Waec Accounting Past Questions For Year 2020
Question 36
The internal users of accounting information are the
- A. creditors
- B. employees
- C. investors
- D. customers
Question 37
The accounting equation of a business shows the
- A. current assets and current liabilities only
- B. difference between current assets and liabilities
- C. assets and the sources of financing them
- D. owner's interest in the business only
Question 38
A method of charging depreciation at a fixed percentage of the net book value is
- A. straight line method
- B. reducing balance method
- C. sum of the years' digits method
- D. revaluation method
Question 39
The document which contains the internal regulations of a limited liability company is the
- A. Certificate of Incorporation
- B. Prospectus
- C. Article of Association
- D. Memorandum of Association
Question 40
The excess of net assets acquired over purchase consideration is
- A. capital reserve
- B. goodwill.
- C. purchase price
- D. discount
