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 continuing 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........
36. Which of
the following is debited to Partner's Current Account?
a. Capital
b. Interest on Capital
c. Drawings
d. Share of Profit.
37. A
Debenture Holder is a?
a. Creditor
b. Promoter
c. Debtor
d. Shareholder.
a. Tons of Merchandise
b. Units of Goods
c. Units of Shares
d. Bundles of Wares.
39. Which of
the following is the effect of a Reduction in the Provision for Doubtful Debt?
a. Reduction in Net Profit
b. Reduction in Cash Balance
c. Reduction in Gross Profit
d. Increase in Net Profit.
40. Which of
the Following is the basis of Accounting in the Civil Service?
a. Accrual
b. Cash
c. Income
d. Profit.
41. The
Reward given to a Debenture Holder is called?
a. Interest
b. Premium
c. Dividend
d. Reserve.
42. If
Incorrect entries on the debit side equals other incorrect entries on the
credit side, the error is that of?
a. Commission
b. Principle
c. Compensation
d. Original Entry.
43. Working
Capital is measured by the excess of?
a. Current Assets over Current Liabilities
b. Long Term Liabilities over Fixed Assets
c. Fixed Assets over Current Assets
d. Current Assets over Fixed Assets.
44. The
Undistributed Profit of a Limited Liability Company is?
a. Goodwill
b. Working Capital
c. Net Loss
d. Retained Earnings.
45. A List
of Balances extracted from the Ledger is known as?
a. Balance Sheet
b. Statement of Affairs
c. Trial Balance
d. Trading Account.
46. The
Financial Plan of the Government for a year is contained in the?
a. Vote Book
b. Budget
c. Gazette
d. General Order.
47. When a
Business if purchased, the double entries required in the Purchaser's Book are,
debit?
a. Vendor's Account and Credit Purchases of
Business Account
b. Purchase of Business Account
c. Vendor's Account and Credit Cash Account
d. Asset Account and Credit Purchase of
Business Account.
NOTE: THE QUESTIONS IN THIS POST
WERE CULLED FROM WEST AFRICA EXAM COUNCIL 1995 & 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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