Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1086:

• WAEC 2012

The objectively of accounting information is enable users to

A. Prepre the financial statements
B. Value stock
C. Make decisions
D. Prepare budgets

Question 1087:

• WAEC 2012

The objectively of accounting information is enable users to

A. Prepre the financial statements
B. Value stock
C. Make decisions
D. Prepare budgets

Question 1088:

• WAEC 2012

Trade discounts are given for

A. Bulk purchases
B. Prompt payment
C. Quick delivery
D. Cash payment

Question 1089:

• WAEC 2012

When closing stock is overstated, it would reduce,

A. Cost of sales and increase gross profit
B. Gross profit and increase cost of sales
C. Purchases and increases sales
D. Sales and increase purchases

Question 1090:

• WAEC 2012

Which of the following is not a source document?

A. Journal paper
B. Sales invoice
C. Debit note
D. Credit note