WAEC Book-Keeping Questions and Answers. I will be showing you WAEC Book Keeping objective and theory repeated questions for free. You will also understand how WAEC Book Keeping questions are set and many more examination details.
The West African Examination Council is an examination body that set questions yearly from areas student should, after their studies in the senior secondary school, be able to write and pass without stress.
PAPER 1: This paper will consist of forty multiple choice questions all of which must be answered in 50 minutes for 40 marks
PAPER 2: This paper will consist of two sections, Sections A and B as follows:
WAEC 2020/2021 Book Keeping Answers to Questions
Below is WAEC Book Keeping Questions and Answers 2020/2021 to OBJ/ESSAY
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
D. Discounts received
4. The excess of expenditure over income in an income and expenditure account is
WAEC Book Keeping Essay and Objective 2020 (EXPO)
The above questions are not exactly 2020 WAEC Book Keeping questions and answers but likely WAEC Book-Keeping repeated questions and answers.
These questions are for practice. The 2020 WAEC Book Keeping expo will be posted on this page on the day of the WAEC Book Keeping examination. Keep checking and refreshing/reloading this page for the answers.
WAEC Book Keeping Questions and Answers 2020 Loading…
Today’s Waec Bookkeeping Answers
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.
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
(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.
(i) Recording of disposal of fixed assets.
(ii) Correction of errors.
(iii) Double entry transactions.
(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.
(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.
BOOK KEEPING OBJECTIVES (OBJ) ANSWERS
How to Pass WAEC Book Keeping Examination
1. Have a Positive Mindset:
It is obvious that until your mindset is positive, your life will not be positive. As you prepare for WAEC, you must develop a positive mindset towards your fate.
Don’t say, “WAEC is very hard I don’t know whether I will pass” and don’t believe anyone that says you cannot pass WAEC 2020 on your own.
Have the mentality, “If others passed WAEC 2020 in the past, then I will be like them. Refuse to be identified with failure or those that failed in the past.
Even if this year’s WAEC Exam is not your first time, it doesn’t mean that you cannot pass WAEC 2020 Book Keeping this time around.
Sit for maths 2020/2021 will a refined mindset. Nothing will make you fail WAEC 2020. Until your mindset is positive, your life will not be positive.
2. Avoid Bad Companies
If you are really serious about passing WAEC 2020 Book Keeping, try and avoid bad companies. They will discourage and engage you in activities that will not enhance your success. Remember that their mindset may not correspond to yours.
3. Set Good Target and Plans:
If you have made up your mind to pass WAEC Book Keeping 2020, the next thing you should do is set targets. Write down the type of grades you want in WAEC 2020. If you want all As, no Fs and no Es then you should start planning it now.
Make sure you create a timetable and master plan to achieve your set goals. Remember, it takes nothing to dream but it takes everything to focus on your dream.
4. Get WAEC Book Keeping Recommended Textbooks 2020 :
One of your plans should be getting the WAEC 2020 Book Keeping recommended textbooks. Normally, the West African Examination Council recommends books for the examination.
But apart from WAEC 2020 literature in English where certain novels are compulsory, you are free to use any good textbook to prepare for WAEC 2020 marketing exam.
Some topics are more difficult to understand. If you have any topic you are finding difficult to understand, then get another textbook that will make things simple for you.
5. Get WAEC Book Keeping Past Question:
This is a very good plan. Since WAEC 2020 and WAEC 2020 are of the same standard, you could use the same past questions to study for both.
If you are confused about how to get waec past questions. They are sold in good bookshops around. It is possible that the school where you registered could offer to give you some current past questions that will help you in WAEC 2020.
6. Start Preparing for WAEC Book Keeping 2020 :
Stop wasting your time. Now that you have gotten textbooks and past questions, the next thing is to begin your reading. Early reading and practice is good for you; you will pass well on WAEC 2020.
7. Avoid Skipping Examples and Exercises:
It is very unfortunate that Secondary school students are fond of skipping exercises and even examples while studying textbooks.
They loved notebooks so much that they could ask, “can I read my Book Keeping, Mathematics, etc notebooks and pass WAEC 2020?”
Don’t be scared of attempting exercises; they are there to help you. Face it and overcome it!
8. Test Yourself on WAEC Book Keeping Questions and Answers
This is a good practice. Once in awhile, answer full one year Book Keeping past questions on your own without checking the answers. Then mark to see your score. This will help you in many aspects.
9. Do Constant Practice:
Don’t get discouraged when certain topics are annoying, keep on practicing until you master everything. Never give up and never say never. Keep on keeping on….
10. Create Time for Recreation
Create time for yourself where you play and ease off stresses. Do not overwork yourself; it can make you waste time unnecessarily. One you work more than necessary, you are not gaining anything.
If you have any question about WAEC 2020 Book Keeping Questions and Answers, kindly let us know in the comment box.
Last Updated on September 10, 2020 by Admin