2024 WAEC Book Keeping Questions and Answers

Waec gce questions and answers-2022
THE ANSWERS TO 2024 WAEC Book Keeping EXAM ARE NOT THE ONES AT THE BOTTOM OF THIS POST.

WHY YOU SHOULD GET YOUR WAEC GCE Book Keeping MIDNIGHT?

The 2024 WAEC Book Keeping exam is near and we must prepare beforehand. He who fails to prepare is indirectly preparing to fail. I urge you to kindly follow the instructions on this page. So you will find yourself in our WAEC VIP group where all these website PINS, questions, and answers will be posted there accurately and on time. Are you in or not? Smiles… I know you’re interested…

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2024 WAEC Book Keeping Questions and Answers: WAEC 2024 Book Keeping Answers:

The 2024 Book Keeping questions and answers are right here with us.

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2022 WAEC Questions and Answers.

WAEC Book Keeping Questions and Answers 2022.

2022 WAEC Book Keeping Questions and Answers.

 

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WAEC Book Keeping-Obj Questions and Answers 2022!

 

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BOOK KEEPING GCE WAEC Questions and Answers 2022

 

(1a)

(Pick Any Five)

 

(i)Invoice

(ii)Credit note

(iii)Debit note

(iv)Petty cash Voucher

(v) statement of account

(vi)Reciepts

 

(1bi)

Cashbook: cash book is used in accounting to records all cash transactions in detail.

 

(1bii)

Return inward book: Return Inward book is used to record the goods returned to the business enterprise

 

(1biii)

Purchases Day book: The purchases day book is used to record all the purchase invoices for goods and services supplied on credit to the firm

 

(1biv)

Sales Day book: Sales Day book is used for recording all the credit sales of the business in one distinct place

 

(1bv) Returns outward book: Returns outward book is used to record the debit notes

 

 

(2a)

partnership business consists of two or more people who combine their resources to form a business and agree to share risks, profits and losses. Common partnership business examples include law firms, physician groups, real estate investment firms and accounting groups.

 

(2b)

(i)General partner

(ii)Limited partner

 

(i)General partner: General partners are active in the business, doing the work of the company (being CPAs, for example) but also participating in management and decision-making.

 

 

(ii)Limited partners: Limited partners are passive. They have invested in the business but they don’t participate on a day-to-day basis in the running of the business.

 

 

(2c)

 

3(a)

Entrepreneur is the person who co-ordinate , controls and organises the process of production in order to make maximum output at minimum cost there by making profits

 

3(b)

(i)Risk bearer

(ii)Organisation

(iii) Decision making

(iv) Control other factors

(v) Creativity

(vi) Professionalism

(vii) Knowledge

(Viii)Social skills

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