2025 WAEC/NECO(GCE), JUPEB HQ🎓🎓

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*WAEC GCE UP NEXT* 👇👇👇 =========================== *Saturday, 4th February 2023* General mathematics 2 (Essay) 9:30am - 12:00pm General mathematics 1 (Objective) 2:00pm - 3:30pm =========================== *SUBSCRIPTION ØNGOING*

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*WAEC GCE UP NEXT* 👇👇👇 ======================== *Friday, 3rd February 2023* Agricultural Science 2 (Essay) 9:30am - 11:40am Agricultural Science 1 (Objective) 11:40am - 12:30pm Literature-in-English 3 (Drama & Poetry) 3:00pm - 5:30pm =========================== To Get Questions And Answers 2hrs Before Exams Start Message Eagle Eye Exam Solution Now On Whatsapp 08023343546

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(4c) [PICK ANY FOUR] (i) To ascertain the authenticity of transactions and their compliance with the established laws, regulations and statutes. (ii) Providing evidence of stewardship. (iii) Assisting planning and control. (iv) Assisting objective and timely reporting. (v) Providing the basis for decision-making. ========================================================================================== ========================================================================================== COMPLETED. ALWAYS SUBSCRIBE TO GET BOTH QUESTIONS AND ANSWERS 4-2HRS BEFORE EXAMS START. TO GET NEXT PAPERS 2HRS BEFORE YOUR EXAM START, MESSAGE EAGLE EYE EXAM SOLUTION NOW ON WHATSAPP 08023343546 COMPLIED BY EAGLE EYE EXAM SOLUTION

2023 WAEC GCE FIRST SERIES FINANCIAL ACCOUNTING QUESTIONS AND ANSWERS:- BY EAGLE EYE EXAM SOLUTION // 08023343546 ========================================================================================== ========================================================================================== OBJ ANSWERS 01-10: BACCBADCAA 11-20: DDACBACDCD 21-30: ACADDBACDA 31-40: DDDCBACCDB 41-50: CABCABBDAC THEROY ANSWERS. (1a) i:An asset is anything that has current or future economic value to a business . Essentially, for businesses, assets include everything controlled and owned by the company that's currently valuable or could provide monetary benefit in the future. Examples include patents, machinery, and investments. ii: a liability is an obligation between one party and another not yet completed or paid for. (1c) • helps to maximise all the expenses you claim and reduce your tax obligations • will help out, should you be investigated by HMRC • makes it quicker to prepare your accounts at year-end • gives you the information you need to run your business and help it grow • helps you plan for tax payments • helps identify the strengths and weaknesses in your business • helps manage changes and improvements in your business • will help you plan to meet financial commitments such paying creditors or employees • makes it easier to get a loan or sell your business • avoids over/under tax payments • helps identify if your business is liable for paying VAT to HMRC • makes it easier to distribute profits to shareholders as dividends or for partnerships where both profits and losses have to be shared. *PICK ANY SEVEN* (2a) A drawing in business is defined as any money that is taken from the business account for personal use (2b) (i) Premium Method: Under this method, when the incoming partner brings his share of goodwill in cash, the existing partners share it in the sacrificing ratio. However, when the amount of goodwill is paid privately by the new partner to old partners privately in cash, no entry is passed in the books of the firm. (ii) Revaluation Method: We use this method when the new partner decides not to bring his share of goodwill in cash. Thus, we need to raise the goodwill account in the books by debiting Goodwill account and crediting old partners’ capital accounts in the old profit-sharing ratio. (2c) (i) Due to the death of the partner. (ii) Due to the admission of a new partner. (iii) Due to the retirement of a partner. (iv) Due to the bankruptcy of a partner. (v) Due to the expiry of the partnership period, if the partnership is for a particular period. (vi) Due to Insolvency of an existing partner. (3b) I:production Cost apportionment occurs when a specific cost cannot be directly identified with one specific cost center. ii:The basis used for apportionment of direct expenses is the number of cost centres when the expenses are to be shared equitably between them iii:Overheads are directly allocated to various departments on the basis of expenses for each department (3biii) Factory Overhead are expenses incurred which is not traceable to a particular production unit. E. g supervisors. (3bv) Direct materials are raw materials used in the production of goods, which is traceable to a particular production unit. (4a) Public Sector Accounting is the process of recording the financial transactions concerning the receipts and payments of government funds, systematically, as well as their analysis and interpretation to guide governments and their agents in various financial decisions. (4b) [PICK ANY FIVE] (i) Grants from central government. (ii) Statutory Allocation e.g. Nigeria from the Federation Account. (iii) Rates/levies: There are rates people pay to maintain, sustain and expand social services. (iv) State allocation: In Nigeria, at least 10% of internally generated revenue of the State Government. (v) Investment in business yields to the local government. (vi) Fees from liquor licenses, registrations, markets, motor parks, etc. (vii) Court fines: (Share of court fines in Nigeria).

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*WAEC GCE UP NEXT* 👇👇👇 =========================== *Thursday, 2nd February 2023* Financial Accounting 2 (Theory and Practice) 9:30am - 12:00noon Financial Accounting 1 (Objective) 12:00noon - 1:00pm ===========================

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