Waec Accounts - Principles of Accounts Questions
Question 111:
The document evidencing a disbursement of government fund is known as
- A Bill
- B Invoice
- C Till book
- D Payment voucher
- E Local purchase order
Question 112:
The authority of the accountant-General to disburse from government fund is called
- A Voucher
- B Warrant
- C Estimate
- D Provision
- E Vote
Question 113:
Where the cash book does not show a credit balance in a bank reconciliation: Unpresented cheques are book i. added to the cash book balance ii. added to the bank statement balance iii. deducted from the cash book balance
- A I
- B Ii
- C Iii
- D I and ii
- E Ii and iii
Question 114:
If the Opening stock is undervalued
- A Goods available would be understated and gross profit overstated
- B Goods available and gross profit would be understates
- C Goods available would be overstated and gross profit understated
- D Gross profit and goods available would be overstated
- E Cost of goods sold would be overstated
Question 115:
Capital is the
- A Liability of tthe business to its proprietor
- B Money owed by the company to others
- C Money owed to the company by others
- D Total of the long-term liabilities
- E Total of the short-term liaqbilities