Waec Accounts - Principles of Accounts 1996 Past Questions and Answers

Question 1:

• WAEC 1996

Which of the following is the book of original entry for all payments and receipts whether by cash or cheque?

A. Sales day book
B. Purchases day book
C. Cash book
D. Cheque book
E. Journal book

Question 2:

• WAEC 1996

Which of the following is the book of original entry for all payments and receipts whether by cash or cheque?

A. Sales day book
B. Purchases day book
C. Cash book
D. Cheque book
E. Journal book

Question 3:

• WAEC 1996

Which of the following is not a cause for the difference between bank statement balance and cash book balance?

A. Bank charges
B. Presented cheque
C. Direct transfer
D. Standing order
E. Uncredited logements

Question 4:

• WAEC 1996

A sales journal is used to record

A. Sales expenses
B. Cash sales
C. Credit sales
D. Sales return
E. Sales commission

Question 5:

• WAEC 1996

Which of the following fixed assets is not depreciable?

A. Building
B. Tools
C. Land
D. Motor van
E. Furniture