Questions and Answers for the WAEC Accounting Exam: Here is a list of financial accounting questions from past exams to help you study for the West African Senior School Certificate Examination (WASSCE), which is open to both School and GCE applicants.
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Questions and Answers on Accounting WAEC 2023
You can’t stress enough how important it is to use old test papers to prepare for the West African Senior School Certificate Examination (WASSCE), whether you are in your last year of secondary school (May/June) or not in school (GCE).
You can test how much you know by using old tests as part of your preparation. In the same way, you learn what you don’t know or don’t know well enough.
Keep refreshing this page, as we will definitely update this page as soon as the Latest 2023 WAEC Accounting Questions and Answers are out…
In the meantime, go through these past questions and Answers below for the previous years because they are likely questions for WAEC Accounting 2023.
Past Questions and Answers on Accounting WAEC
The West African Examination Council is an exam body that sets questions every year that should be easy for students to answer and pass after they have finished their studies in senior secondary school.
Here are WAEC Accounting Practice Questions and Answers 2022/2023.
1. The person in charge of making sure that all public spending and budgeting is in line with the approved schedule is the
A. A debtor
B. Teller
C. The Chief Auditor
D. Bursar
C (Auditor General)
2. The cash basis of accounting means that income is only counted when it comes in.
A. sent Out
B. documented
C. lost
D. was given
ANSWER: D (Received)
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3.Accounting for responsibility is most concerned with
A. variable cost
B. fixed cost
C. controllable costs
D. uncontrollable costs
C (Controllable costs)
4. Earnings per share is a way of calculating
A. loss
B. profit
C. income
D. expenditure
ANSWER: B (Profitability)
How to Do Well in WAEC Financial Accounting Exam
Here are some tips that will help you do well on your finance and accounting exams. Read them carefully and put them to use:
1. Avoid Bad Friends
If you really want to pass WAEC Accounting, you should stay away from bad companies. They will try to get you to give up and do things that won’t help you do well. Keep in mind that their view might be different from yours.
2. Decide on your goals and plans
If you want to pass the WAEC Financial Accounting test, the next thing you should do is set goals. There should be a list of the WAEC grades you want. If you want to get only As, no Fs, and no Es, you should start planning now.
Make sure you make a schedule and a general plan for how you will reach your goals. To dream doesn’t take anything, but to focus on your dream does.
3. Get the WAEC recommended books for accounting
One of your plans should be to buy the WAEC suggested texts for financial accounting. Most of the time, the West African Examination Council suggests books for the test.
But, besides the WAEC literature in English, where you have to read a few novels, you can use any good textbook to prepare for the WAEC Accounting exam.
Some things are harder to understand than others. If you don’t understand a subject, choose a different textbook that will help you understand it.
4. Get the previous WAEC accounting questions
This plan is a good one. Getting a previous question will help you do well on your exams because it will show you what kinds of questions will be asked. Don’t utilize just one last question, however; use several.
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If you don’t know how to get the old WAEC questions. They can be bought at many good bookstores. The school where you signed up might be able to give you some questions from the recent past that will help you on the WAEC.
5. Get ready for the WAEC accounting test:
Don’t wait around any longer. The next step after getting your textbooks and practice tests is to start reading. You’ll do well on the WAEC if you start reading and practicing early on.