Waec Accounts - Principles of Accounts Past Questions and Answers

Question 691:

• WAEC 2003

The art of recording transactions in books of account is known as

A. Debiting
B. Book-keeping
C. Auditing
D. Crediting

Question 692:

• 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 693:

• 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 694:

• 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 695:

• 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