2022 WAEC GCE Financial Accounting Answers [19th November]

SCHOLARSHIPS & OPPORTUNITIES

Get Free Live 2022 WAEC GCE August/September (2nd Series) Financial Accounting Essay & OBJ Questions and Answers for Private Candidates Free of Charge | WAEC GCE Aug/Sept Free Accounting Questions and Answers (Essay & OBJ) EXPO Room (19th November, 2022).

WAEC GCE AUGUST/SEPTEMBER 2022 FREE FINANCIAL ACCOUNTING (ACCOUNT) QUESTION AND ANSWER ROOM [PRIVATE CANDIDATES]

Saturday, 19th November, 2022
Financial Accounting 2 (Theory and Practice) – 9:30am – 12noon
Financial Accounting 1 (Objective) – 12noon – 1:00pm

 

A. 2022 WAEC GCE FINANCIAL ACCOUNTING OBJECTIVE (OBJ) ANSWERS | 19TH NOVEMBER, 2022

1-10: ADCBCCBBCD
11-20: DCCBDADDBC
21-30: BBBCABCABA
31-40: ABCBBDCDAB
41-50: BBBCCBDBDC

A. 2022 WAEC GCE FINANCIAL ACCOUNTING ESSAY (THEORY) ANSWERS | 19TH NOVEMBER, 2022

(1ai)
Manual Data Processing; This data processing method is handled manually. The entire process of data collection, filtering, sorting, calculation, and other logical operations are all done with human intervention and without the use of any other electronic device or automation software.

(1aii)
Mechanical Data Processing; Data is processed mechanically through the use of devices and machines. These can include simple devices such as calculators, typewriters, printing press, etc. Simple data processing operations can be achieved with this method.

(1aiii)
Electronic Data Processing
Data is processed with modern technologies using data processing software and programs. A set of instructions is given to the software to process the data and yield output.

(1b)
(i)Data collection; Collecting data is the first step in data processing. Data is pulled from available sources, including data lakes and data warehouses.
(ii)Data preparation; Once the data is collected, it then enters the data preparation stage. Data preparation, often referred to as “pre-processing” is the stage at which raw data is cleaned up and organized for the following stage of data processing. During preparation, raw data is diligently checked for any errors.
(iii)Data input; The clean data is then entered into its destination (perhaps a CRM like Salesforce or a data warehouse like Redshift), and translated into a language that it can understand

4.

(4a)
(i) Fixed assests:  may be defined as the resources, Properties or possession of a Firm. They are owned by a business and are expected to be of Some future benefits.

EXAMPLE
(i) Furniture and Fitting
(ii) plant and machinery
(iii) Land and Building

(ii) Current assests: these are assets, which are usually held For a short period of time For the purpose of Conversion in the ordinary Course of business.

EXAMPLE
(i) Stock of goods
(ii) Debtor
(iii) Bank
(iv) Cash

(iii) Capital is the original Money invested in a business by the owner. it is also referred to as net worth or Owner's equity

EXAMPLE
(i) Equity Capital
(ii) Loan Capital
(iii) Working capital

(iv) Intangible assets: these are assets, which have no physical substance or properties but Contribute economic benefits to the organization

EXAMPLE
(i) Goodwill
(ii) Trademark
(iii) patent
(iv) Copyright

(v) Current Liabilities:  these are liabilities which are due for settlement within one year.

EXAMPLE
(i) Creditors
(ii) overdraft
(iii) Accrued expenses
(iv) income in advance.

5.

OR

6.

8.

B. 2022 WAEC GCE FINANCIAL ACCOUNTING ESSAY (THEORY) QUESTIONS

TO SUBSCRIBE FOR WAEC GCE FINANCIAL ACCOUNTING OBJ & THEORY ANSWERS VIA LINK ONLY

1. JUST GO OUT AND BUY MTN CARDS OF N600 (500 + 100 = 600)
2. GO TO YOUR MESSAGE, TYPE THE MTN CARD PINS CORRECTLY AND SEND TO 08107431933.
3. DON'T CALL THE NUMBER, JUST TEXT, IF THE CARDS PINS ARE VALID, A REPLY WILL BE SENT TO YOU CONFIRMING THAT YOU HAVE BEEN SUBSCRIBED.
4. DO NOT TRY TO LOAD THE CARD AFTER SENDING AND NO REPLY WAS SENT IMMEDIATELY, BE PATIENT AS WE ATTEND TO MESSAGES IN ASCENDING ORDER
   
5. RELAX AND WAIT FOR YOUR ANSWERS 45 MINUTES AFTER EXAM STARTS.
6. NB: DO NOT SEND USED CARD PINS OR YOUR NUMBER WILL BE BLOCKED IMMEDIATELY.

NB: ONLINE ANSWERS COMES 1hr: 30 Mins After Exam Commences (KEEP REFRESHING THIS PAGE)

• Click Here to Join Our Facebook Group.

NB: Only Share this Page with Trusted Students, We will be hiding this page immediately exam ends and a new page will be created for the upcoming exam. Kindly do well to bookmark the site and check back later.
===============================================
DAILY SUBSCRIPTION - PER SUBJECTS
*******Link Payment Per Subject: N600***** [Gets Answers On Time]
******Link Payment Per Practical: N400***** [Gets Answers On Time]
===========================================