Waec Accounts - Principles of Accounts 1994 Past Questions and Answers

Question 31:

• WAEC 1994

Sale of goods for N500 to Eddy was not posted. This is an error of

A. Omission
B. Compensation
C. Commission
D. Principle
E. Ordinary entry

Question 32:

• WAEC 1994

Purchase of goods for N1,000 from chukwu had been entered in Cukwura's account. This is an error of

A. Omission
B. Compensation
C. Commission
D. Principle
E. Original entry

Question 33:

• WAEC 1994

A typewriter for office use sold for N5,000 was posted to sales account. This is an error of a

A. Omission
B. Compensation
C. Commission
D. Principle
E. Original entry

Question 34:

• WAEC 1994

Goods purchased for N92 was entered in the books as N29. This is an error of

A. Compensation
B. Omission
C. Commission
D. Principle
E. Original entry

Question 35:

• WAEC 1994

John brought in an additional plant into his business. What are the accounting entries necessary to reflect the transaction?

A. Debit plant account, credit current account
B. Debit current account, credit plant account
C. Credit plannt account, credit profit and loss account
D. Debit profit and loss account, credit plant account
E. Debit plant account, credit capital account