2019/20 WASSCE/WAEC FINANCIAL ACCOUNTING REAL,,,,SURE,,, EXPO,,,,RUNS,,,HELP,,, CONFIRM QUESTIONS AND ANSWERS FOR ALL COUNTRIES SUCH AS GHANA,,,,,,, SIERRA LEONES,,,,, GAMBIA,,,, LIBERIA,,,,,NIGERIA

OBJECTIVES

NIGERIA and GAMBIA

ACCOUNTING OBJ:

1-10: BCABABBCCC

11-20: ACADBCBDDB

21-30: ACBCCACBAB

31-40: BDBADCCDAB

41-50: CBBBBBDCCB

(Number 2)


(2a)Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts.


(2b)
(i)Branches are separated from the main organization while Department are attached with the main organization under a single roof

(ii)Branches are geographically separated while Department are not  separated rather exist under the same roof

(iii)Allocation of branch common expenses does not arise while allocation of departmental common expenses is a tough job




(2c)
(Pick four)
(i)It enables the organization to determine the branch that is making either profit or loss

(ii)It helps to determine the performance of the organization as a whole

(iii)It allows proper control over the branch by the head office

(iv)it also assists the organization to determine the performance of a branch manager

(v)it prevent wastage and fraud from the staff