WAEC GCE Accounting Questions and Answers 2022/2023 (Essay and Objectives)

WAEC GCE Accounting Questions and Answers 2022. I will be showing you the WAEC GCE Financial Accounting objective and theory questions for free. You will also understand how WAEC GCE Accounting questions are set and many more examination details.

The West African Examination Council is an examination body that set questions annually from areas students should, after their studies in the senior secondary school, be able to write and pass without stress.

WAEC GCE Accounting answers and questions Objectives and Essay will be provided here in detail and the authenticity of this WAEC GCE 2022 Financial Accounting solutions to questions have been tested and confirmed to be sure.

See: WAEC GCE Timetable

WAEC GCE Accounting Essay And Objective Questions and Answers 2022 (EXPO)

The 2021 WAEC GCE Financial Accounting expo will be posted here during the WAEC GCE Accounting examination. Keep checking and reloading this page for the answers.

WAEC GCE Nov./Dec 2022 Accounting Answers Loading…

Today’s GCE Accounting Answers: Loading…

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Note: The answers below are the 2020 Nov/Dec answers.

(3a)
Accounting ratios are groups of metrics used to measure the efficiency and profitability of a company based on its financial reports. They provide a way of expressing the relationship between one accounting data point to another and are the basis of ratio analysis.

(3b)
(i)Inventory Turnover Ratio
(ii)Fixed Asset Turnover Ratio
(iii)Accounts Receivable Turnover

(3c)
(i)Activity Ratios help in comparison to businesses in the same line of operation.
(ii)Activity Ratios help in Problem identification c be done using the right and necessary corrections in the functioning of the business can be made.
(iii) Activity Ratios simplifies an analysis by providing the financial data in a simple format, which eventually helps in decision making.
(iv)Investors can rely on the information that Activity Ratios provide since it is based on numbers and is accurate.
(v)Activity ratios help in evaluating a business’s operating efficiency by analyzing fixed assets, inventories, and accounts receivables.

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(4)

(5)

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(9)

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The questions below are not exactly 2022 WAEC GCE Financial Accounting questions and answers but likely WAEC GCE Accounting repeated questions and answers.

These questions are strictly for practice. The 2022 WAEC GCE Accounting expo will be posted on this page on the day of the WAEC GCE Accounting examination. Keep checking and reloading this page for the answers.

1. The officer responsible for ascertaining whether all public expenditures and appropriations are in time with the approved guideline is the

A. Creditor

B. Cashier

C. Auditor General

D. Bursar

ANSWER: C (Auditor General)

2. The cash basis of accounting requires the recognition of revenue only when they are

A. sent Out

B. documented

C. lost

D received

ANSWER: D (Received)

3. Responsibility accounting is particularly concerned with

A. variable cost

B. fixed cost

C. controllable costs

D. uncontrollable costs

ANSWER: C (Controllable costs)

4. Earnings per share is a measure of

A. loss

B. profit

C. income

D. expenditure

ANSWER: B (Profitability)

WAEC GCE Accounting Questions and Answers 2022 Loading…

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How To Pass WAEC GCE Financial Accounting Examination

The West African Examination Council (WAEC) is a body in charge of the Senior Secondary School Certificate Examination. The Certificate offered here is a very important credential that awards or certifies the completion of your Secondary School Education.

It is a major document that qualifies you into any tertiary institution and is equally a major factor affecting admission today.

For this reason, every Student preparing for this examination WAEC GCE 2022 is preparing for something great.

Care should be taken when participating in this examination in other not to come out with bad grades. The following are the key answers to  WAEC GCE Accounting 2022.

1. Be Determined to Pass

The WAEC GCE 2020 Accounting is mainly for those who have made up their mind to pass it with a good grade.

Any candidate who, at this point in time, has not made up his or her mind to make the excellent grade in the forthcoming WAEC GCE 2022 Accounting is actually not ready to pass.

Your mind should be ready for the task ahead, do not follow lazy friends who believe in a miracle on the day of the exams, stay positive and study your books.

2. Have Self-Confidence

Self-confidence is another factor that affects a candidate’s performance. Promise to do it all by yourself and everything will come out very simple for you.

It is a well-known fact that many students cancel the right answers just to copy the wrong ones because of a lack of self-confidence. Study and pray hard and you are the miracle for the day.

3. Start Studying Early

Studying is very important in your life as a student. WAEC is a very simple Exam to deal with as long as studies are involved. Studying is one thing and studying on time is another thing entirely.

Do not wait for the WAEC GCE 2022 Accounting exams to be so close before you start studying for them. Late preparation will not really help you. When you start studying early there will be time for you to revise before the exams.

2. Make Use the WAEC GCE 2022 Syllabus

Using the WAEC GCE 2022 syllabus is very essential as it will guide you on major topics to cover. Studying without the Syllabus will make you focus on unnecessary topics that will not appear in the exams.

Also, most of the Accounting topics you have not done in class are there in the NECO syllabus.

3. Pray to God Your creator

Many think that they can do it all alone without God. The Almighty God is your creator, seek His assistance and He will never fail to help you. Your faith in God determines your success. God is there for you, call upon Him.

4. Adhere to exam instructions.

Any student who is not ready to adhere to the examination conducts is planning to fail. The majority of WAEC GCE Candidates that have their results held are those that were not ready to follow the Exam instructions.

5. Use Your Time Wisely.

It is a well-known fact that WAEC GCE Accounting requires a lot of time, manage the little time given to you wisely. Consider the number of questions you are to answer and the time given so that you can time wisely.

6. Be Punctual to the Examination Venue

Punctuality matters during the exams. Go to the exam venue early so that your brain can settle for the task. Rushing to the exam hall will make you unstable for the exam and can prone you to so many mistakes.

Take time to go through the exam question paper before you start answering. WAEC GCE Accounting Questions and Answers.

If you have any questions about the 2022 WAEC GCE Accounting questions and answers, do well to let us know in the comment box.

Last Updated on October 17, 2022 by Admin