Waec Accounting Past Questions For Year 2016
Question 41
The cost of goods returned by branch to head office is debited
- A. Branch stock adjustment account
- B. Goods sent to branch account
- C. Branch stock account
- D. Branch profit and loss account
Question 42
The branch current account records
- A. Head office transactions with the branch
- B. Branch transactions with the head office
- C. Goods sent to branch at selling price
- D. Cash received from branch as sales
Question 43
Debts that a firm is unable to recover are debited to bad debts account and credited to
- A. Suppliers account
- B. Sales account
- C. Customers account
- D. Cash account
Question 44
A loan to a company under the company's seal is
- A. Fixed deposit
- B. Mortgage
- C. Bond
- D. Debenture
Question 45
Assets which are readily convertible into cash are termed as
- A. Liquid assets
- B. Fixed assets
- C. Intangible assets
- D. Tangible assets
