WAEC GCE Financial Accounting Expo Runz Answers is Out 2022/2023

Financial Accounting WAEC GCE Questions 2022/2023 For Second Series Candidate: Financial Accounting WAEC Expo Questions is out now on our website. In this article, I will be showing you past WAEC GCE Financial Accounting random repeated questions and answers for free.

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

Welcome to the WAEC GCE Financial Accounting Objective & Essay Answers to Questions for the years 2022-2023. Today is the last day of the WAEC GCE Financial Accounting expo.

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2022/2023 WAEC GCE Financial Accounting Questions: Financial Accounting WAEC GCE Expo Questions are out now on our website. In this article, I will be showing you the recent WAEC GCE Financial Accounting questions with answers.

BUT IF YOU THINK WHAT YOU’VE READ AND WHAT YOU’VE BEEN TAUGHT BY YOUR TEACHER IS ENOUGH TO TACKLE WAEC GCE Financial Accounting Paper III & II (Objective & Essay) QUESTIONS SET BY PROFESSORS, THEN GO AND RISK IT, I PRAY YOU WON’T REWRITE THESE EXAMS AGAIN. BUT KNOW THAT SUCCESS IS YOUR VICTORY”

You will also understand how WAEC GCE Financial Accounting Objective & Essay is set and many more examination details. All you need to do is to stay focused and follow this guide. Check out Financial Accounting Practical Answer to Question solution.

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WAEC GCE Financial Accounting Answers Latest Update

Our greatest joy is for you to pass your WAEC GCE Financial Accounting Objective & Essay Expo scheduled on the 19th November 2022 examination with ease because reading is the key to success, try your best so you can be able to defend yourself and your certificate anywhere.

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(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

 

(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 madvance.

 

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According to the timetable, WAEC GCE Financial Accounting EXAMINATION HAS BEEN SCHEDULED TO TAKE PLACE ON

Thursday, 19th November 2022

Financial Accounting 2 (Essay)
Financial Accounting 1 (Objective)

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Conclusion on WAEC GCE Financial Accounting 2022 Question

Please note that the answers presented in this post are a guide to the forthcoming national examination council WAEC GCE exam Marketing. We have prepared it to aid the student in preparing for the practical. If you have any questions about the WAEC GCE 2022 Financial Accounting Objective & Essay questions and answers, kindly let us know in the comment box

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