Waec Accounting Past Questions For Year 2014
Question 41
The document prepared by a local/district government to present its annual estimates for a planning period is
- A. a balance sheet
- B. a budget
- C. an income and expendiure account
- D. a cash bppk
Question 42
Which of the following item is not treated in the profit and loss account?
- A. office expenses
- B. salaries and allowances
- C. carriage inwards
- D. discounts allowed
Question 43
subscription in advance is classified in the balance sheet as
- A. an asset
- B. a liability
- C. a deficit
- D. a surplus
Question 44
The principle of double entry bookkeeping states that
- A. every debtor must have a creditor
- B. every account debited must be immediately credited
- C. for every debit entry, there must be a corresponding credit entry
- D. for every double debit, there must be a double credit
Question 45
A collection of fields relating to one logically definable unit of business information is known as
- A. database
- B. character
- C. byte
- D. record
