Looking for WAEC Accountancy Questions and Answers 2023? We provide the 2023 WAEC Bookkeeping Guide, equipping students with strategies to succeed in the upcoming exams.
Accounting WAEC Question and Answer 2023
The West African Examination Council, commonly known as WAEC, is the education board responsible for conducting examinations for students in West Africa. It administers two main examinations, namely SSCE for May/June and WAEC or GCE for November/December. Among these exams, the WAEC 2023 Accountancy exam was held on August 18, 2023, generating considerable interest among students who were eager to get the 2023 WAEC Accountancy Question and Answer.
Due to this increased interest, students have been actively searching for Accounting WAEC Question 2023 and WAEC Accounting Questions and Answers 2023. To help these students, we have compiled a comprehensive list of Accounting WAEC Questions and Answers 2023 below. It provides valuable information for those preparing for the exam. in Accounting WAEC 2023.
WAEC Accountancy Questions and Answers 2023
(1a)
(CHOOSE ANY)
A joint stock company is a type of business organization that is owned by shareholders who hold shares of its stock. It can also refer to a type of business organization in which ownership is divided into shares. It is a form of society
OR
A joint-stock company is a business entity in which shareholders can buy and sell company shares. Each shareholder owns the shares of the company proportionally, which is proven by their shares
(1b)
(i) a limited liability company is usually owned by a small group of individuals or entities, often called shareholders. A WHILE joint stock company, on the other hand, can have an unlimited number of shareholders.
(ii) Private limited companies usually have a lower minimum share capital requirement compared to public limited companies, WHILE public limited companies often have higher statutory minimum share capital requirements.
(iii) Private limited liability companies may not publicly offer shares or invite the public to subscribe for their shares. WHEREAS Public limited companies can make an initial public offering (IPO) to raise capital by issuing shares to the public
(iv) Limited liability companies generally have a more flexible and less formal corporate governance structure. WHILE Public limited companies have more extensive corporate governance requirements.
(3a)
(CHOOSE ANY)
Product marketing is a strategic function within a company that focuses on promoting and positioning a particular product or service in the marketplace to attract and satisfy customers.
OR
Product marketing is a strategic discipline that focuses on the promotion and positioning of a company’s products or services to target customers. It includes understanding the market, identifying customer needs and preferences.
(3b)
(CHOOSE ANY EIGHT)
(i) Use various advertising channels such as print media, television, radio, online platforms, social media and digital ads to reach a wide audience.
(ii) Create informative and engaging content to educate potential customers about the new product.
(iii) Collaborate with influential individuals or industry experts who have a significant online following.
(iv) Leverage social media platforms such as Facebook, Instagram, Twitter, LinkedIn and YouTube to engage with target audiences.
(v) Build an email list of potential customers and develop targeted email campaigns to introduce the new product.
(vi) Issue press releases to relevant media outlets and industry publications to announce new product launches.
(vii) Organize live demonstrations or product displays at trade shows, industry events or in-store locations.
(viii) Offer free trials, samples, or time-limited promotions to encourage potential customers to try a new product.
(ix) Implement referral programs that encourage existing customers to recommend the new product to their friends, family or colleagues.
(x) Collaborate with complementary companies or influencers to promote the new product.
WAEC Book Keeping Questions
The objective of the WAEC Book Keeping Questions and Answers 2023 refers to a specific set of questions that will be included in the WAEC Book Keeping Examination 2023. These questions are intended to assess the candidate’s understanding of basic bookkeeping concepts and procedures. Objective WAEC Book Keeping Questions and Answers 2023 cover various topics including:
- Different types of accounts
- Various types of transactions
- Recording of transactions in the journal
- Posting transactions in the general ledger
- Creating a trial balance
- Creating a balance sheet
- Compiling the profit and loss account
- Identification of different types of errors
- Error correction
The objective questions on the exam usually follow a multiple-choice format, with each question carrying one mark. About 50 objective questions are usually required to be answered in the WAEC accountancy exam.
In addition to objective questions, the exam also includes several descriptive questions. These essay questions assess candidates’ ability to apply their accounting knowledge to real-life scenarios. Essay questions often carry more marks compared to objective questions and are usually more demanding.
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Categories: General
Source: HIS Education