Waec Accounts - Principles of Accounts Past Questions and Answers

Question 686:

• WAEC 2003

Which of the following transactions is posted to the nominal ledger?

A. Discounts alloed to customers
B. Cash paid by a customer
C. Purchase of fixed asset for cash
D. Cash paid to suppliers

Question 687:

• WAEC 2003

Which of the following is a real account item?

A. Goodwill
B. Fixtures
C. Debtors
D. Interest

Question 688:

• WAEC 2003

Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \\ \text{Balance as per cash book} & 18,000\\ \text{Dishonored cheques} & 1,200\\ \text{Bank charged} & 300\\ Unpresented cheques} & 2,400\end{array}\)
The balance as per statement is

A. ₦21,300
B. ₦16,500
C. ₦16,500
D. ₦14,100

Question 689:

• WAEC 2003

The purchase of a typewriter for office use was debited to purchases Account. This is an error of

A. Original entry
B. Commission
C. Principle
D. Omission

Question 690:

• WAEC 2003

Which of the following has multiple uses?

A. Sales jounal
B. Purchases journal
C. General jounal
D. Returns outwards journal