Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1151:

• WAEC 2013

Which of the following is recorded on the debit side of the Trial Balance?

A. Bank overdrafted
B. Returns outwards
C. Purchases
D. Capital

Question 1152:

• WAEC 2013

Use the following information to answer the question given
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{Creditor} & 2,495 & 2,285\\ \text{Debtors} & 1,215 & 2,145 \\ \text{Cash paid to creditors} & - & 32,170\\ \text{Cash received from customers} & - & 40,650\\ \text{Goods returned to suppliers} & - & 500\end{array}\)
Purchases for the year is

A. D32,880
B. D32,780
C. D32,460
D. D31,960

Question 1153:

• WAEC 2013

Use the following information to answer the question given
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{Creditor} & 2,495 & 2,285\\ \text{Debtors} & 1,215 & 2,145 \\ \text{Cash paid to creditors} & - & 32,170\\ \text{Cash received from customers} & - & 40,650\\ \text{Goods returned to suppliers} & - & 500\end{array}\)
Sales for the year is

A. D42,795
B. D42,080
C. D41,580
D. D39,720

Question 1154:

• WAEC 2013

Cash receipts and payments involving discounts are entered in

A. Three-column cash book
B. Two-column cash book
C. Analytical cash book
D. Petty cash book

Question 1155:

• WAEC 2013

The minimum number of persons required to form a partnership business is

A. 2
B. 3
C. 5
D. 10