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FINANCIAL ACC 101

ANSWERS TO PREVIOUSLY ASKED QUESTIONS ON PREVIOUSLY TREATED TOPICS


HAPPY NEW MONTH Everyone, Welcome to the month of May-a month of Success, Breakthrough, Answered Prayers, Fulfilled Wishes, Joy, Love, Peace and all other good things for you and everyone around you in the Mighty name of Jesus- Amen.
You are Blessed and highly Lifted, this month shall see signs and wonders being a reality in every facet of your life. God is right beside you and he is saying to you this morning that all will be well, all secret tears would be wiped away and turned into laughter for you in this blessed month. therefore CONGRATULATIONS!!!!!!
LOLZ, Now we had some questions last week and this is the last post on this questions series until later, after this we would explore more topics and open more branches and types of account to us. Well Today we are basically answering the questions asked last week, hope you tried them and excelled at them. well if you found some tricky, no need to worry cos the answers are here today. So pls Enjoy!!!!
ANSWERS:

1. D- Discount Allowed (WAEC 2009, NO 38).

2. D- Discount, Cash and Bank (WAEC 2009, NO 15).

3. B- Cash Book (WAEC 2009, NO 01).

4. A- Principal Book of Accounts (WAEC 2010, NO 04).

5. D- Machinery (WAEC 2000, NO 27).

6. C- Accountant General (WAEC 2001, NO 47).

7. B- Consolidated Revenue Fund (WAEC 2001, NO 49).

8. B- Assets - Liabilities = Capital (WAEC 2002, NO 01).

9. B- Float (WAEC 2002, NO 02).

10. C- Debtors Account (WAEC 2002, NO 50).

NOTE: ALL THE QUESTIONS & ANSWERS IN THIS POST ARE CREDITED TO WEST AFRICA EXAM COUNCIL 2000, 2001, 2002, 2009, & 2010 PAPERS. THANKS

This brings us to the end of today's session. Hope this was very helpful to you, leave a comment of what you think of this tutorial and of your questions below. Have a Blessed Day and Remember You are Amazing. God Bless.



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