Waec Accounting Past Questions For Year 2016
Question 1
Every asset should have
- A. a non-monetary value
- B. tangible and intangible qualities
- C. monetary cost and future benefit
- D. an inadequate monetary value
Question 2
External users of accounting information include
- A. employees
- B. management
- C. banks
- D. directors
Question 3
A petty cash account has an imprest of GH¢ 6,000. If GH¢ 2,000 were left, how much will be re-imbursed at the end of the period?
- A. GH¢ 8,000
- B. GH¢ 6,000
- C. GH¢ 4,000
- D. GH¢ 2,000
Question 4
A bank statement shows an overdraft of GH¢ 190,000. Kofi a debtor paid GH¢ 400,000 into the account. The new balance is
- A. GH¢ 590,000
- B. GH¢ 590,000 0verdrawn
- C. GH¢ 210,000
- D. GH¢ 210,000 Overdrawn
Question 5
Which of the following errors are errors of commission?
I. A cheque paid to Adam debited to Adam's account.
II. Credit sales to Eva credited to sales account but debited to Eve's account.
III. Furniture repairs debited to furniture account.
IV. Credit purchases from Manu credited to Manu's account.
- A. A cheque paid to Adam debited to Adam's account.
- B. I and II
- C. I and IV
- D. II and IV
- E. III and IV
