Waec Accounts - Principles of Accounts 2004 Past Questions and Answers

Question 1:

• WAEC 2004

The sales day Book is used to record

A. Cash and credit sales
B. Credit sales
C. Cash sales
D. Sales to middleman

Question 2:

• WAEC 2004

The sales day Book is used to record

A. Cash and credit sales
B. Credit sales
C. Cash sales
D. Sales to middleman

Question 3:

• WAEC 2004

The principle entry book-keeping states that every

A. Every debit entry must have a corresponding credit entry
B. Debtor must have a creditor
C. Double debit must must have a double credit entry
D. Account debited should also be credited

Question 4:

• WAEC 2004

Which of the following is used to record the purchase of fixed asset on credit?

A. Sales journal
B. Journal proper
C. Purchases journal
D. Cash book

Question 5:

• WAEC 2004

Which of the following is both a subsidiary book and a ledger?

A. Sales journal
B. Purchases journal
C. Returns inward book
D. Cash book