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WAEC Accounts (Principles of Accounts) questions

297 questions with answers and explanations. Tap an option to check yourself.

AllJAMBWAEC
All topicsAccounting concepts and conventions · 17Accounts of not-for-profit organisations · 14Accruals, prepayments and provisions · 17Bank reconciliation statements · 16Branch and departmental accounts · 16Company accounts · 15Control accounts · 15Depreciation of non-current assets · 17Double entry and the ledger · 19Final accounts of a sole trader · 19Incomplete records · 15Manufacturing accounts · 14Nature and purpose of accounting · 14Partnership accounts · 15Petty cash and the imprest system · 14Public sector accounting · 14Source documents and books of original entry · 14The cash book and discounts · 16The trial balance and errors · 16

  1. Question 241· Public sector accounting· WAEC

    The Auditor-General for the Federation audits

    Explanation and discussion

  2. Question 242· Public sector accounting· WAEC

    Government accounting mainly uses the

    Explanation and discussion

  3. Question 243· Public sector accounting· WAEC

    Government revenue is paid into a single Treasury account under the policy known as

    Explanation and discussion

  4. Question 244· Public sector accounting· WAEC

    A government's estimate of its revenue and expenditure for a year is the

    Explanation and discussion

  5. Question 245· Public sector accounting· WAEC

    The officer responsible for auditing federal government accounts is the

    Explanation and discussion

  6. Question 246· Public sector accounting· WAEC

    The Auditor-General audits

    Explanation and discussion

  7. Question 247· Public sector accounting· WAEC

    The main aim of public sector accounting is

    Explanation and discussion

  8. Question 248· Public sector accounting· WAEC

    In Nigeria, all federal revenues are paid into the

    Explanation and discussion

  9. Question 249· Public sector accounting· WAEC

    A supplementary budget is passed when

    Explanation and discussion

  10. Question 250· Public sector accounting· WAEC

    The officer who controls spending in a ministry is the

    Explanation and discussion

  11. Question 251· Public sector accounting· WAEC

    The annual budget passed by the legislature becomes the

    Explanation and discussion

  12. Question 252· Source documents and books of original entry· WAEC

    The journal proper is used to record

    Explanation and discussion

  13. Question 253· Source documents and books of original entry· WAEC

    A paying-in slip is evidence of

    Explanation and discussion

  14. Question 254· Source documents and books of original entry· WAEC

    Returns inwards are recorded from

    Explanation and discussion

  15. Question 255· Source documents and books of original entry· WAEC

    A seller who receives back damaged goods from a customer sends the customer a

    Explanation and discussion

  16. Question 256· Source documents and books of original entry· WAEC

    The purchases journal records

    Explanation and discussion

  17. Question 257· Source documents and books of original entry· WAEC

    A cheque counterfoil is the source document for

    Explanation and discussion

  18. Question 258· Source documents and books of original entry· WAEC

    In accounting, the cheque counterfoil (stub) is the source document for

    Explanation and discussion

  19. Question 259· Source documents and books of original entry· WAEC

    The returns inwards book is written up from

    Explanation and discussion

  20. Question 260· Source documents and books of original entry· WAEC

    The book of original entry for credit purchases of goods is the

    Explanation and discussion

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