Waec Accounts - Principles of Accounts 1999 Past Questions and Answers

Question 1:

• WAEC 1999

Errors in the ledger can be corrected through

A. Journal proper
B. Sales day book
C. Purchases day book
D. Control account

Question 2:

• WAEC 1999

Errors in the ledger can be corrected through

A. Journal proper
B. Sales day book
C. Purchases day book
D. Control account

Question 3:

• WAEC 1999

Item in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include

A. Bank charges
B. Standing order
C. Presented cheque
D. Interest overdraft

Question 4:

• WAEC 1999

Discount received is

A. Credited to the trading account
B. Debited to the Profit and Loss Account
C. Credited to the Profit and Loss Account
D. Credited to the Appropriation Account

Question 5:

• WAEC 1999

Carriage outwards is charged to

A. Credited to the trading account
B. Debited to the profit and loss account
C. Credited to the profit and loss account
D. Credited to the appropriation account