WAEC Book Keeping Questions and Answers 2022/2023 ( Essay and Objectives)

WAEC Book-Keeping Questions and Answers. I will be showing you today the WAEC Book Keeping objective and theory repeated questions for free. You will learn and understand how WAEC Book Keeping questions are set and many more examination details.

The West African Examination Council is an examination body that sets yearly questions from topics that students should be able to write and pass without stress after finishing senior secondary school.

 

PAPER 1: There will be forty multiple-choice questions to answer in 50 minutes for a total of 40 points.
PAPER 2: Sections A and B of this paper will be as follows:

WAEC 2022/2023 Book Keeping Answers to Questions

(1a) Stock valuation is the process of determining a stock’s current (or predicted) value over a specified period of time.

(1bi) -FIFO CHARACTERS- (i)it is simple to implement (ii)the anticipated cost flow corresponds to the regular physical movement of products

(1bii) -LIFO CHARACTERISTICS


(i) It is a method of inventory accounting in which the most recently created products are recorded as sold first.
(ii) The most recent products purchased (or manufactured) are expensed first as cost of goods sold (COGS).

(2a) In accounting, expense refers to the money spent, or expenditures experienced, by a company in order to create revenue. Consider the cost of delivery.

WAEC GCE Timetable for 2022/2023 Examination | Download PDF

(2b) Revenue is the total amount of money earned through the sale of goods and services connected to the business’s core operations. For instance, consider service revenue.

(2c) A loss is a drop in net income that occurs outside of a company’s normal activities. To put it another way, losses might occur as a result of a variety of actions. A sale of an asset for less than its carrying value is an example.

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(2d) Capital is the worth of the owner’s investment in the company (s). It is the portion of the business that belongs to the owner; thus, it is also known as the owner’s interest. For example, financial capital.

WAEC Book Keeping Questions and Answers
WAEC Book Keeping Questions and Answers
Below is WAEC Book Keeping Questions and Answers Practice 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 Essay and Objective 2022 (EXPO)

The questions and answers above are probable WAEC Book-Keeping repeated questions and answers from 2022 WAEC Book-Keeping.

This is a practice set of questions. On the day of the WAEC Book Keeping test, the 2022 WAEC Book Keeping expo will be published on this page. For the answers, keep checking this page and refreshing/reloading it.

How to Pass WAEC Book Keeping Examination

1. Have a Positive Mindset

It is self-evident that you will not be able to live a happy life unless you have a positive outlook. As you prepare for WAEC, you must maintain a positive attitude about your fate.

Don’t utter things like “WAEC is incredibly difficult, I’m not sure if I’ll pass,” and don’t trust anyone who tells you that you can’t pass WAEC 2022 on your own.

Have the mindset that “if others have passed WAEC 2022 before me, then I will as well.” Refuse to be associated with failure or those who have already failed.

Even if this isn’t your first time taking the WAEC Exam, it doesn’t imply you won’t be able to pass WAEC 2022 Book Keeping this time.

For math, take a seat. The attitude in 2022/2023 will be refined. Nothing will cause you to fail the WAEC exam.

2. Avoid Bad Companies

If you’re serious about passing WAEC 2022 Book Keeping, stay away from shady businesses. They will try to discourage you and entice you to participate in activities that will hinder your progress. Keep in mind that their perspective may differ from yours.

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3. Set Good Target and Plans

If you’ve decided to pass WAEC Book Keeping in 2022, the next step is to create goals for yourself. Make a list of the WAEC 2022 grades you want to achieve. If you want all As, no Fs, and no Es, you should start planning immediately.

Make sure you have a timeframe and a master plan in place to meet your objectives. It’s important to remember that it takes nothing to dream, but everything to focus on your dream.

4. Get WAEC Book Keeping Recommended Textbooks 2022

Getting the WAEC 2022 Book Keeping suggested textbooks should be one of your goals. The West African Examination Council usually suggests literature for the exam.

Apart from WAEC 2022 English literature, where specified novels are required, you are free to prepare for the WAEC 2022 marketing exam with any suitable textbook.

Some subjects are more difficult to grasp. If you’re having trouble understanding a topic, look for a different textbook that will simplify things for you.

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5. Get WAEC Book Keeping Past Question

This is an excellent strategy. Because WAEC 2022 and WAEC 2022 are of the same standard, you might study for both using the same prior questions.

If you’re unsure how to obtain WAEC past questions. They can be found at decent bookstores all throughout. It’s conceivable that the institution where you registered will offer you some recent past questions to help you prepare for WAEC 2022.

6. Start Preparing for WAEC Book Keeping 2022

Don’t squander your time. After you’ve obtained your textbooks and practice questions, it’s time to start reading. You will do well on WAEC 2022 if you start reading and practicing early.

7. Avoid Skipping Examples and Exercises

Secondary school students have a bad habit of skipping exercises and even examples when studying textbooks, which is regrettable.

“Can I read my Book Keeping, Mathematics, and other notebooks and pass WAEC 2022?” they could ask.

Exercises are there to assist you, so don’t be afraid to try them. Face your fears and defeat them!

WAEC GCE Timetable for 2022/2023 Examination | Download PDF

8. Test Yourself on WAEC Book Keeping Questions and Answers

This is an excellent habit to get into. Answer the entire one-year book Keeping past questions on your own and not verifying the answers every now and then. Then give yourself a grade to see how well you did. This will assist you in a variety of ways.

9. Do Constant Practice

Don’t get frustrated if particular topics irritate you; keep practicing until you’ve mastered them all. Never say never and never give up. Continue to persevere….

10. Create Time for Recreation

Allow yourself to unwind and relax by playing. You will lose time unnecessarily if you overwork yourself. You will not gain anything if you work more than is required.

Please leave a comment if you have any questions about WAEC 2022 Book Keeping Questions and Answers.