Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1231:

• WAEC 2015

Purchase invoice is first entered in the

A. Purchases Account
B. Cash Book
C. Sales Journal
D. Purchases Journal

Question 1232:

• WAEC 2015

Assets acquired is recorded by debiting _______?

A. Asset Account, Crediting Cash Account
B. Cash Account, Crediting Asset Account
C. Purchase of Business Account, Crediting Sale of Business Account
D. Asset Account, Crediting Purchase of Business Account

Question 1233:

• WAEC 2015

Goods returned to a supplier is

A. Debited to returns outward account
B. Credited to returns outwards account
C. Debited to returns inwards account
D. Credited to returns inwards account

Question 1234:

• WAEC 2015

Which of the following is not a real account?

A. Plant account
B. Salaries account
C. Creditors account
D. Trading account

Question 1235:

• WAEC 2015

The accounting ledger for goods sold on credit are debit

A. Debtors account, credit sales account
B. Creditors account, credit sales account
C. Sales account, credit debtors account
D. Sales account, credit creditors account