WAEC Book Keeping Questions and Answers 2021 | Theory and OBJ- Download PDF

Filed in WAEC News by on July 22, 2021 0 Comments

WAEC Book Keeping Questions and Answers 2021 | Theory and OBJ- Download PDF

WAEC Book Keeping Questions and Answers…If you are about to write the West African Senior Certificate Exams (WASSCE), you will realize that you need the WAEC Past Questions and Answers.

WAEC Book Keeping Questions and Answers 2021

WAEC Book Keeping Questions and Answers 2021

This article provides you with WAEC Book Keeping Questions and Answers for the WASSCE 2021. It contains information regarding the WAEC Book Keeping Theory and Objective Questions and Answers.

Examination Scheme:

There will be two papers, Papers 1 and 2, both of which will be a composite paper to be taken at one sitting.

PAPER 1: Will consist of forty multiple choice questions all of which must be answered in 50 minutes for 40 marks
PAPER 2: Will consist of two sections, Sections A and B as follows:
Section A: Will cover Theory of Book-Keeping and contain four questions. Candidates will be required to answer two for 20 marks.
Section B: Will cover Practice of Book-Keeping and contain five questions.
Candidates will be required to answer three for 60 marks. The paper will last 2 hours.

WAEC Book Keeping Objective Questions

1. A statement drawn up to show assets and liabilities is
A. bank statement.
B. balance sheet.
C. statement of account.
D. general journal.

2. Discounts allowed and received are recorded in the
A. three Column Cash Book.
B. bank Statement.
C. single Column Cash Book.
D. petty Cash Book.

3. Which of the following is not a trial balance item?
A. Opening stock
B. Closing stock
C. Capital
D. Discounts received

4. The excess of expenditure over income in an income and expenditure account is
A. loss.
B. balance.
C. deficit
D. profit

WAEC Book Keeping Theory Questions

Today’s Waec Bookkeeping Answers (2020 Answers)

(1ai)
To keep a complete and accurate record of all the financial transactions in a systematic orderly, logical manner. This ensures that the financial effects of these transactions are reflected in the books of accounts.

(1aii)
To ascertain the overall effect of all recorded transactions on the final statement of the company. Book-keeping will eventually ascertain the final accounts of the company, namely the Profit and Loss Account and the Balance Sheet

(1bi)
(i)Balances of cash and bank can be obtained at a glance.
(ii)Performs the function of a subsidiary book.
(iii)It also performs the function of a ledger.

(1bii)
(i) Recording of disposal of fixed assets.
(ii) Correction of errors.
(iii) Double entry transactions.

(3a)
Tabulate:

(i) Trial balance considers opening stock while The balance sheet considers closing stock.

(ii) Trial balance is not a part of financial statements and final accounts while The balance sheet is an essential part of financial statements and final accounts.

(3b)
(i) It fails to show the transactions on an accrual basis.
(ii) It does not define any targets making it incapable of showing surpluses and deficits at the end of the year.

How to Download WAEC Past Questions and Answers

WAEC Past Questions and Answers are available for download for all subjects in PDF. To download WAEC Past Questions and Answers for Book Keeping, you only need a phone, a whatsapp account and a Gmail address.

Then call 07063986527 and drop and WhatsApp message.

Click the Link Below to download WAEC Past Questions and Answers for Book Keeping.

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