WAEC SSCE 2019 EXPO: Financial Accounting Theory Questions And Answers

WAEC SSCE 2019 EXPO: Financial Accounting Theory Questions And Answers. January / February First series Free Expo subscription Runz. Financial Accounting waec syllabus, waec expo, Free verified complete waec questions and answers on Financial Accounting, waec gce 2019 Financial Accounting full verified questions and answers, waec Financial Accounting past questions, Financial Accounting wassce past questions site, waec gce expo Financial Accounting website, 2019/2020 free waec expo Financial Accounting website posted on WhatsApp.
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Make A’s and B’s in your 2018/2019 WAEC GCE Financial Accounting Obj & Essay Questions And Answers and other subjects in your 2019/2020 Waec may/june Examination.

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ACCOUNTING OBJ:
1-10: BCABABBCCC
11-20: ACADBCBDDB
21-30: ACBC

(2a)
Closing entries: are entries made at the end of an accounting period to zero out all temporary accounts and transfer their balances to schoolcollege.ng permanent accounts. In other words, the temporary accounts are closed or reset at the end of the year.

(2c)
(i) Branch is a subdivision of a company and is a geographical classification. While a department is a classification based on the function, activites or goods.
(ii) The branch is an extension of the office with more or less the same features. While a department is a technical area of a office which is under the same premises

READ  Proofs and testimonies In 2018 WAEC May/June Of Our Candidates Results So Far

(2c)
(i)Depreciation of Fixed Assets: To ensure that the opening bal­ance of the fixed assets and closing balance of the fixed assets (of course deducting depreciation) are shown in the Branch Account.
(ii)Goods in Transit: To ensure that the difference between goods sent by Head Office and SchoolCollege.ng received by the Branch. Such goods will be shown either on both sides of the Branch Account or will be ignored altogether while preparing the Branch Account.
(iii)Expenses Incurred by Branch: To ensure that the the amount remitted by Head Office to Branch for meeting expenses is debited in Branch Account. If actual amount spent by Branch is less, the cash balance is shown as a part of closing balance, in the credit side of the Branch Account.
(iv)Loss of Stock, Surplus of Stock: To ensure that the Shortage or surpluses of stock at the Branch due to normal or abnormal reasons are not shown in the Branch Account……Reload this page after 30 seconds

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Financial Accounting Obj & Essay questions and Answers would alive a day before Examination.

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WAEC Financial Accounting Obj and Theory/Essay 2019/2020 Free Questions & Answers Posted Online

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How to get good grades in 2019 WAEC Financial Accounting

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Chinonso Ibeh
About Chinonso Ibeh 3496 Articles
I'm the founder of schoolcollege.ng Nigerian educational resourceful digital content website that ignite students curiosity and inspire educators to reimagine learning as a solid ground, with improving student achievement.

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