Waec Accounts - Principles of Accounts 2014 Past Questions and Answers

Question 1:

• WAEC 2014

The source document used to make entries in the purchase day book is

A. Debt note
B. Credit note
C. Invoice
D. Receipt

Question 2:

• WAEC 2014

The source document used to make entries in the purchase day book is

A. Debt note
B. Credit note
C. Invoice
D. Receipt

Question 3:

• WAEC 2014

A book that contains individual accounts of suppliers is the

A. Purchase ledger
B. General ledger
C. Nominal ledger
D. Sales ledger

Question 4:

• WAEC 2014

In the operation of an imprest of petty cash, the

A. Petty cashier pays all expenses
B. Petty cashier pays money to the accountant
C. Petty cashier regularly begins each period with the same amount of money
D. Main cashier accounts to the petty cashier for some experiences made by him

Question 5:

• WAEC 2014

An example of a credit entry in a profit and loss account is

A. Carriage inwards
B. Carriage outwards
C. Discounts allowed
D. Discounts received