Waec Accounting Past Questions For Year 1999
Question 41
A balance sheet is a
- A. form of trading account
- B. proof of arithmetical accuracy of postings
- C. statement showing profits at a certain date
- D. statement showing assets and liabilities at a cretain date
Question 42
The total share capital which a company would be allowed to issue is known as
- A. issued share capital
- B. authorised share capital
- C. working capital
- D. fixed capital
Question 43
Umana Ltd. issued 200,000 shares at N1 each out of its Authorized Share capital of N300,000 at N1 each. At the end of the first call, all shareholders paid in full, except for one shareholder who owes N10,000. The unissued capital of the company is
- A. N310,000
- B. N300,000
- C. N210,000
- D. N100,000
Question 44
Umana Ltd. issued 200,000 shares at N1 each out of its Authorized Share capital of N300,000 at N1 each. At the end of the first call, all shareholders paid in full, except for one shareholder who owes N10,000. The company's paid-up capital is
- A. N310,000
- B. N290,000
- C. N210,000
- D. N190,000
Question 45
The authority of the Accountant General to disburse from government fund is called
- A. estimate
- B. warrant
- C. provision
- D. vote
