Waec Accounts - Principles of Accounts 2011 Past Questions and Answers

Question 16:

• WAEC 2011

Which of the following is a subsidiary book?

A. Cash book
B. Bank statement
C. Control accounts
D. Trial balance

Question 17:

• WAEC 2011

Goods returned by the buyer is recorded in the seller's book as

A. Carriage inwards
B. Carriage outwards
C. Returns outwards
D. Returns inwards

Question 18:

• WAEC 2011

The method of ascertaining capital from income record is by preparing the

A. Cash book
B. Statement of affairs
C. Suspense account
D. Control account

Question 19:

• WAEC 2011

A petty cashier operates with an imprest of D1,000 per week. At the end of the week he had disbursed D920. How much is needed to restore the imprest?

A. D1,920
B. D1,000
C. D920
D. D80

Question 20:

• WAEC 2011

Accumulated fund is also referred to as

A. Surplus
B. Porofit
C. Deficit
D. Capital