Waec Accounts - Principles of Accounts Past Questions and Answers

Question 941:

• WAEC 2008

Trade creditors personal accounts are found in the

A. Purchases ledger
B. Sales ledger
C. General ledger
D. Sales day book

Question 942:

• WAEC 2008

Which of the following is a norminal account?

A. Bank account
B. Cash account
C. Sales account
D. Stock account

Question 943:

• WAEC 2008

Which of the following is not an instrument for controlling public expenditure?

A. Constitution
B. Financial regulation
C. Budget
D. Memorandum

Question 944:

• WAEC 2008

Use the following to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditors} & 30,000 \\ \text{Credit sales} & 100,000\\ \text{Credit purchases} & 80,000 \\ \text{Bad debts}& 5,500\\ \text{Set-offs} & 65,500\end{array}\)
Closing debtors figure is

A. ₦140,000
B. ₦134,500
C. ₦80,000
D. ₦69,000

Question 945:

• WAEC 2009

Which of the following books of original entry is used to record all payments and receipt by cash or cheque?

A. Sales day book
B. Cash book
C. Purchase day book
D. General journal