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WAEC SSCE

Accounting Past Questions

100 questions  ·  4 years  ·  1995–2011

Full WAEC SSCE past questions with correct answers. Practice with timed simulations, track your scores, and top the leaderboard.

100
Questions
4
Years
1995
Earliest

Sample Questions

Showing 10 of 100 questions
1
WAEC SSCE 1995

Which of the following are on the bank statement before reconciliation K (i) Standing order (ii) | Payment to a creditor (iii) Receipt from a debtor (iv) Uncredited cheques f (v) —_ Unpresented cheques ;

A (i) and (v) only qi
B (i) and (ii) only i Cc. (i), (ii) and (iii) only
D (i) and (iv) only
E (i), (iv) and (v) only i Use the following information to answer questions 25 to 27 j Debtors Control Account ke Re cg i Balance b/d 8,000 Bank ed x" 12,000 Discount 200 Balance c/d 3,000
Answer: A
2
WAEC SSCE 2000

In abonus issue of one new share for every four held, a holder of 100,000 shares will get additional shares of

A — 50,000
B 25,000
C 20,000
D ‘10,000
Answer: A
3
WAEC SSCE 2000

A partner who has full powers of participating in the conduct of a partnership business is a

A general partner.
B _ limited partner. Cc. sleeping partner.
D nominal partner.
Answer: A
4
WAEC SSCE 2000

The ratio which measures the solvency of a firm is the

A quick ratio.
B gross profit over sales ratio.
C stock turnover ratio.
D debtors turnover ratio. 1014411 10
Answer: A
5
WAEC SSCE 2000

When goods are purchased on account, the accounting entries are

A debit Purchases Account; credit Supplier’s Account.
B credit Purchases Account; debit Supplier’s Account. Cc. credit Bank Account, debit Purchases Account.
D debit Bank Account, credit Purchases Account.
Answer: A
6
WAEC SSCE 2000

An account is said to have a debit balance because

A the first entry made in it is on the debit side.
B there are more entries on the debit side than on the credit side.
C total value of debit entries is more than total value of credit entries.
D _ there is no entry at all on the debit side. Use the information below to answer questions 34 to 36. A motor vehicle bought for $16,000 was estimated to have a useful life span of 4 years and a scrap value of 42,000
Answer: C
7
WAEC SSCE 2000

— What is the net book value of the motor vehicle at the end of the third year, using the straight line method?

A 9,000
B 5,500
C 3,500
D 2,000
Answer: B
8
WAEC SSCE 2000

A list of all credit and debit balances from the ledger accounts is

A _ Trial Balance.
B Profit and Loss Statement.
C Statement of Affairs.
D Balance Sheet. Use the following information to answer questions 43 to 46. FI Sales 14,600 Purchases 5,500 Returns inward 150 Rent 2,000 Salaries 1,000 Discount received 400 Closing stock 250 Opening stock 100
Answer: A
9
WAEC SSCE 2000

The capital of a not-for-profit making organisation is

A capital reserve fund.
B accumulated fund.
C endowment fund.
D development fund.
Answer: B
10
WAEC SSCE 2000

Which of the following is used in locating errors in the ledger?

A Trading Account
B Trial Balance
C Control Account
D Journal. Proper
Answer: B

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Subject Overview
Exam
WAEC SSCE
Subject
Accounting
Total Questions
100
Years Covered
1995–2011
Years Available
4
Format
Multiple Choice