REVISION QUESTIONS
Hey Everyone, Happy Holiday to you. I guess i
would say this till the end of the Holiday Period. So once again Happy Holiday
Season and Happy Summer to those of us Aboard. Have Fun and be Joyful but don't
displease God in the process cos He's the reason you can have fun-Be Blessed.
So in the Spirit of Holiday we are revising all WAEC, JAMB & GCE Questions
we can find to keep our mind fresh and in tune that way we are ready when
schools resume again, so let's get started........
1. Which of
the following books of original entry is used to record all payments and
receipts by cash or cheque?
a. Sales day book
b. Cash book
c. Purchases day book
d. General Journal.
2. Expenses
incurred but not yet paid is?
a. Contingent Liability
b. Current Liability
c. Capital Expenditure
3. In the
absence of an agreement, Partners share profit
a. Based on Activeness of a Partner
b. Based on Capital Contribution
c. On Patronage Basis
d. On Equal Basis.
4.
Subscriptions Prepaid by members is recorded in the Balance sheet of a club as
a
a. Current Liability
b. Current Assets
c. Fixed Assets
d. Long Term Liability.
5. The
Reduction in value of an Intangible Asset is?
a. Depletion
b. Depreciation
c. Amortization
d. Appreciation.
6. Which of
the following is not part of Cost of Production?
a. Wage of Operators
b. Factory Power
c. Advertising
d. Cost of Raw Materials.
7. Rent is
apportioned to each department on the basis of?
a. Area or Space Occupied
b. Equality
c. Turnover
d. Purchase.
8. A
Document which acknowledges that a Company owes a person some stated sum of
money with an agreement to pay a fixed rate of interest periodically is?
a. Share Certificate
b. Allotment Certificate
c. Preference Certificate
d. Debenture Certificate.
9.
"Financial Statement do not disclose all information users need to know
about a Firm." This is the concept of?
a. Consistency
b. Money Measurement
c. Dual Aspect
d. Materiality.
10. Which of
the following is not a Source of Revenue for Local Government?
a. Mining Royalties
b. Radio and T.V Licenses
c. Tenement/Property Rate
d. Business Permit Fee.
11. A
Difference between the Debit and Credit Totals in a Trial Balance is placed in?
a. Bank Reconciliation Statement
b. Profit and Loss Account
c. Suspense Account
d. Appropriation Account.
12. A Three
Column Cash book contains columns for?
a. Cash, Assets and Liabilities
b. Bank, Cash and Assets
c. Cash, Bank and Returns
d. Discount, Cash and Bank.
NOTE: THE QUESTIONS IN THIS POST
WERE CULLED FROM WEST AFRICA EXAM COUNCIL 2009 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 Pls try to attempt the Questions on your own. Have a Blessed Day
and Remember You are Amazing. God Bless.
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Due to a fraudulent cryptocurrency investing platform, my spouse and I lost $2.3 million worth of Bitcoin. We noticed a chance to invest in cryptocurrencies a few months ago with the potential to generate enormous returns. Without realizing it was all a fraud to steal our money, we placed a significant portion of our business and retirement funds on this platform after contacting a broker online who was posing as an account manager for a forex trading company. We tried to withdraw money for weeks, but this broker kept asking for more, until we were so indebted and broke that it felt like we were going to die. Luckily for us, we came across an article about Wizard James Recovery. We weren't in a rush to get in touch with them, but we did some research on their offerings and discovered that they could help us get our money back from these crooks. We got in touch with Wizard James, and within 72 hours, James was able to retrieve everything. This company thoroughly investigated the information we gave them and made sure that every penny was returned to us. It felt unbelievable that they were able to retrieve everything we had lost. We are extremely thankful of Wizard James Recovery's assistance and are sharing this with anyone who might benefit from their services.
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