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Author Topic: waec book keeping answers 2022/2023  (Read 206 times)

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Offline NORTOLA

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waec book keeping answers 2022/2023
« on: May 17, 2022, 12:17:12 pm »
answers loading.... 95%
==================================

QUESTION 1


BOOK


(1a)

(i)Checks.

(ii)Invoices.

(iii)Receipts.

(iv)Credit memos.

(v)Employee time cards.


(1b)

Coming


====================================

QUESTION 2


(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)


(Pick Four)

(i)The partners will share profits and losses equally.

(ii)Partners will not get a salary.

(iii)Interest on capital will not be payable.

(iv)Drawings will not be chargeable with interest.

(v)Partners will get 6% p.a. interest on loans to the firm if they mutually agree.


====================================

QUESTION 3


(3a)

ENTREPRENEUR is one who organizes, manages, and assumes the risks of a business or enterprise.


(3b)

(i)Creativity.

(ii)Professionalism.

(iii)Risk-taking.

(iv)Passion.

(v)Planning.

(vi)Knowledge.

(vii)Social Skills.

(viii)Open-mindedness towards learning, people, and even failure.


Typing......



====================================

QUESTION (6)









Typing......



====================================

QUESTION


Typing......



====================================


Completed!.


Offline NORTOLA

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Re: waec book keeping answers 2022/2023
« Reply #1 on: May 17, 2022, 12:19:04 pm »
book keeping obj answer 2022/2023
1-10:ABBDBBBCDD


11:ABDDCDCABC


21-30:CCAABBBADB


31-40:ACDABBBCAD


Complete



Offline NORTOLA

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Re: waec book keeping answers 2022/2023
« Reply #2 on: May 17, 2022, 01:00:38 pm »
6a)
(i)Suppliers include all the parties which provide resources needed by the organisation.

(ii)Market intermediaries include parties involved in distributing the product or service of the organisation. And Public is made up of any other group that has an actual or potential interest or affects the company’s ability to serve its customers

(iii)Partners are all the separate entities like advertising agencies, market research organisations, banking and insurance companies, transportation companies, brokers, etc. which conduct business with the organisation.

(iv)Customers comprise of the target group of the organisation. and competitors are the players in the same market who targets similar customers as that of the organisation.

::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
(6b)
(i)loyal customers; Offer loyal customers an exclusive preview Your loyal customers are a key part of how to promote your product, because they are most likely to not only buy it, but also promote it to their networks. 

(ii)special introductory; Use a special introductory offer
Rather than just announcing your new product or service, you can make it available as a part of a special introductory deal. 

(iii)Run a social media contest; Social media contests are a fun, easy way of connecting with customers and bringing in more fans/followers and prospects for your business. 

(iv)Host an event; Events not only get customers excited about your new product or service, but can also get new prospects personally engaging with you or other employees of your business a great way to win them over as customers


Offline NORTOLA

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Re: waec book keeping answers 2022/2023
« Reply #3 on: May 17, 2022, 01:01:46 pm »
QUESTION (1)

(1a)
(i)Checks.
(ii)Invoices.
(iii)Receipts.
(iv)Credit memos.
(v)Employee time cards.

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
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
No 5 (a)

Pick any four)
(i)Marketing planning provides direction for all organization marketing effort
(ii)Marketing planning help organization to raise finance for capital expenditure.
(iii)Marketing planning prevents time wasting on ineffectual marketing activities.
(iv)It save money by helping to ensure that the marketing budget is spent effectively
(v)It helps to identify. prerequisites to planned activities.
(vi)It helps to generate more clients by communicating effectively.

(5b)

(5bii)
(i)overseeing trade agreement
(ii)Reducing trade barriers
(iii)Reducing worldwide tariffs
(iv)Mediating dispute

(6a)
(i)Suppliers include all the parties which provide resources needed by the organisation.

(ii)Market intermediaries include parties involved in distributing the product or service of the organisation. And Public is made up of any other group that has an actual or potential interest or affects the company’s ability to serve its customers

(iii)Partners are all the separate entities like advertising agencies, market research organisations, banking and insurance companies, transportation companies, brokers, etc. which conduct business with the organisation.

(iv)Customers comprise of the target group of the organisation. and competitors are the players in the same market who targets similar customers as that of the organisation.

::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
(6b)
(i)loyal customers; Offer loyal customers an exclusive preview Your loyal customers are a key part of how to promote your product, because they are most likely to not only buy it, but also promote it to their networks. 

(ii)special introductory; Use a special introductory offer
Rather than just announcing your new product or service, you can make it available as a part of a special introductory deal. 

(iii)Run a social media contest; Social media contests are a fun, easy way of connecting with customers and bringing in more fans/followers and prospects for your business. 

(iv)Host an event; Events not only get customers excited about your new product or service, but can also get new prospects personally engaging with you or other employees of your business a great way to win them over as customers


 

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