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Waec Principles of Cost Accounting Answers 2022 for 19th May

Waec Principles of Cost Accounting Answers 2022: here are the correct sure verified Waec Principles of Cost Accounting answers objective and essay/theory for today Thursday 19th May 2022 and here on the Expobite answer page, we will be providing you with the correct sure answers to this particular exam both objective and theory/essay.

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Waec Principles of Cost Accounting Answers 2022

Exam TypeWaec
Examination DateThursday, 19th May 2022
SubjectData Processing

Thursday, 19th May 2022

  • Principles of Cost Accounting 2 (Essay) 09:30 am – 11:30 am
  • Principles of Cost Accounting 1 (Objective) 11:30 am – 12:30 pm

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Some of Our Past Waec 2022 Answers

Below are some of the answers to the Waec 2022 exams written so far, you can go through them to believe truly that we keep to our words:



Completed By

(i)Suppliers include all the parties which provide resources needed by the organisation.

(ii)Market intermediaries include parties involved in distributing the product or service of the organisation. And Public is made up of any other group that has an actual or potential interest or affects the company’s ability to serve its customers

(iii)Partners are all the separate entities like advertising agencies, market research organisations, banking and insurance companies, transportation companies, brokers, etc. which conduct business with the organisation.

(iv)Customers comprise of the target group of the organisation. and competitors are the players in the same market who targets similar customers as that of the organisation.

(i)loyal customers; Offer loyal customers an exclusive preview Your loyal customers are a key part of how to promote your product, because they are most likely to not only buy it, but also promote it to their networks.

(ii)special introductory; Use a special introductory offer
Rather than just announcing your new product or service, you can make it available as a part of a special introductory deal.

(iii)Run a social media contest; Social media contests are a fun, easy way of connecting with customers and bringing in more fans/followers and prospects for your business.

(iv)Host an event; Events not only get customers excited about your new product or service, but can also get new prospects personally engaging with you or other employees of your business a great way to win them over as customers.

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need is a consumer ‘s desire for a product ‘s or service ‘s specific benefit, whether that be functional or emotional.

want is the desire for products or services that are not necessary, but which consumers wish for.

exchange is a marketplace where securities, commodities, derivatives and other financial instruments are traded.

demand is the total quantity demanded across all consumers in a market for a given good.

transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets in return for money.

Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world.

(i)Retained Earnings Businesses aim to maximize profits by selling a product or rendering service for a price higher than what it costs them to produce the goods. It is the most primitive source of funding for any company.
(ii) Debt Capital Companies obtain debt financing privately through bank loans. They can also source new funds by issuing debt to the public.
(iii)Equity Capital Companies can raise funds from the public in exchange for a proportionate ownership stake in the company in the form of shares issued to investors who become shareholders after purchasing the shares.
(iv)Personal investment
When starting a business, your first investor should be yourself either with your own cash or with collateral on your assets. This proves to investors and bankers that you have a long-term commitment to your project and that you are ready to take risks.

(i)Availability of raw materials
(ii)Nearness to market
(iii)Availability of basic infrastructure
(iv)Economic policy


Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services.

(v)Marketing information management.

(i)The Production Concept; The production concept is focused on operations and is based on the assumption that customers will be more attracted to products that are readily available and can be purchased for less than competing products of the same kind.

(ii)The Product Concept; The product concept is the opposite of the production concept in that it assumes that availability and price don’t have a role in customer buying habits and that people generally prefer quality, innovation, and performance over low cost.

(iii)The Selling Concept
Marketing on the selling concept entails a focus on getting the consumer to the actual transaction without regard for the customer’s needs or the product quality a costly tactic.

(iv)The Marketing Concept; The marketing concept is based on increasing a company’s ability to compete and achieve maximum profits by marketing the ways in which it offers better value to customers than its competitors.




(i) The cake should be light in weight
(ii) The flavour should be pleasing and inviting
(iii)It should be soft, golden brown in colour and no suggestion of sugar crystal
(iv)When cut, it should hold its shape without much crumbling

(i)Layers Uneven /Uneven Cake
(ii)Cake peaks in the centre
(iii)Cakes sag in the centre
(iv)Poor symmetry
(v)Dark Crust Colour


  • Sugar / Honey
  • Lemon juice
  • Ginger
  • Water


  • Peel and chop the pineapple, Add the chopped pineapple to a blender jar.
  • Add 2 to 3 tablespoons sugar (optional) and 6 to 8 ice cubes. Also add 1 cup water.
  • Blend till smooth. For a thin consistency, you can add some more water.
  • Pour in glasses. Serve fresh pineapple juice immediately.




(iv)Credit memos.
(v)Employee time cards.



ENTREPRENEUR is one who organizes, manages, and assumes the risks of a business or enterprise.

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(vii)Social Skills.
(viii)Open-mindedness towards learning, people, and even failure.

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It is used for packaging fish products

(i) Basket
(ii) Leaves
(iii) Foil
(iv) Sack
(v) Carton

(i) It is portable
(ii) It is biodegradable
(iii) It can be branded
(iv) It is inexpensive
(v) It is presentable
(vi) Not likely to cause injury

(i) Not reusable
(ii) Easily damaged
(iii) Not readily available

(1d)It is mostly grounded to make meal or pellets.

Source of carbohydrate for fish feed production


Soybeans meal
Rice polish
Wheat bran

Insect meal
Corn gluten


(i)To avoid injury/cut
(ii) To prevent transfer of germs to fish

(i) Has
(ii) Electricity
(iii) Wood/Firewood
(iv) coconut chaff

(i) Salt
(ii) Bowl
(iii) Sieves
(iv) Smoking drum
(v) Wood shavings matches

(i) They helps in the circulation of water in the fish ponds.
(ii) They create a lively atmosphere by maintaining the oxygen levels in the pond

(i) Inlet tap

(ii) Outlet tap

It is used for agriculture purposes. It is a rotary machine in which an impeller rotates inside a casing, draws in the liquid at its center, and throws out the liquid through an opening at the side of the casing due to centrifugal force.

(i) Temperature
(ii) Dissolved oxygen
(iii) PH
(iv) Conductivity
(v) Turbidity

To obtain a measurement, the disk is lowered into the water while observing the depth at which it disappears. It is lowered some more and then raised while observing the depth at which it reappears. The Secchi disk measurement is the average of the two observations. Secchi disks can also be used to monitor the degree of suspended clay particles in your pond.




A – Centrosema Pubescent
B – Panicum maximum

(i) It increases the fertility of the soil
(ii) It gives farm animals a balanced ration
(iii) It serves as cover crops
(iv) It reduces cost of feeding

(i) Fencing
(ii) Fertilizer application
(iii) Burning
(iv) Weeding

(i) Sweet clover
(ii) White clover

(i) Fresh form – Silage
(ii) Dried form – Hay

(iii) Fermented form – Supplement

(i) It is used to replace butter fat in milk replacers for feeding young animals
(ii) Vitamin

(i) Protein
(ii) Keratin
(i) Garden tools
(ii) Combs
(i) Feather fans
(ii) Flowers

(i) It causes oedema
(ii) It causes ascites

(i) Sorghum
(ii) Millet
(iii) Wheat
(iv) Rice grain

(v) Barley

G – Mineral
H – Carbohydrate
J – Vitamin

(i) It supply them with mineral
(ii) It keeps livestock healthy

(i) It causes oedema
(ii) It causes ascites

(i) Sorghum
(ii) Pearl millet
(iii) Barley
(iv) Wheat
(v) Rice grain

(i) It causes contamination
(ii) It reduces in quality

(iii) Aflatoxin content of it increases

(i) Free drinking water
(ii) Water contained in food
(iii) Metabolic water produced by oxidation of organic nutrients
(iv) Irrigation

(i) Waste elimination
(ii) It plays an essential role in every aspect of metabolism
(iii) Food digestion

(iv) It is critical to the regulation of the birds body temperature

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