Waec Accounting Past Questions For Year 1998
Question 1
Carriage inwards are included on goods
- A. on display
- B. sold
- C. in process
- D. purchases
- E. on return
Question 2
The accountant general disburses government fund by the use of
- A. a voucher
- B. a warrant
- C. an estimate
- D. a vote
- E. aa provision
Question 3
Which of the following is a source of the local government Revenue?
- A. personal income tax
- B. sales of armed forces property
- C. repayment (state)
- D. repayment (Interest and General)
- E. market rates
Question 4
Opening stock + Purchases + carriage inwards is equal to
- A. total sales
- B. cost of goods sold
- C. cost of goods available for sale
- D. gross profit
- E. prime cost
Question 5
Which of the following is the least liquid?
- A. stock
- B. debtors
- C. bills receivable
- D. payment machinery
