Waec Accounts - Principles of Accounts Past Questions and Answers

Question 936:

• WAEC 2008

The entries to record goods bought for cash are: debit

A. Cash account; credit purchases account
B. Purchases account ; credit cash account
C. Purchases account; credit stock account
D. Purchases account; credit goods account

Question 937:

• WAEC 2008

Carriage inwards is posted to

A. Trading account
B. Profit and loss account
C. Appropriate account
D. Balance sheet

Question 938:

• WAEC 2008

Repairs to air conditioners was debited to office equipment account. This is an error of

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

Question 939:

• WAEC 2008

The practice of identifying with one constant approach where a number of approach exist for solving an accounting problem is the convention of

A. Conservatism
B. Consistency
C. Prudence
D. Materiality

Question 940:

• WAEC 2008

Which of the following is a storage device?

A. Diskette
B. Key board
C. Printer
D. Monitor