Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1251:

• WAEC 2015

Which of the following items is found in the sales ledger control account?

A. Discount received
B. Total credit purchases
C. Discount allowed
D. Returns outwards

Question 1252:

• WAEC 2015

The total of the returns outwards journal is posted to the

A. Credit side of the returns outwards book
B. Debit side of the returns outwards account
C. Debit side of the purchases returns book
D. Credit side of the returns outwards account

Question 1253:

• WAEC 2015

Which of the following is a not revealed by a firm's accounting records?

A. Profit of a period
B. Quality of labour force
C. Credit worthiness
D. Value of assets

Question 1254:

• WAEC 2015

Use the following information to answer the question below
\(\begin{array}{c|c}
& 1/7/10 & 30/6/11 \\
& D & D \\
\hline
\text{Stock} & 1,460 & 4,200 \\
\hline
\text{Motor Car} & 3,600 & 3,200 \\
\hline
\text{Creditors} & 600 & 700
\end{array}\)
Drawings during the year amounted to D1,500.
Opening capital is

A. D5,660
B. D5,060
C. D4,460
D. D2,960

Question 1255:

• WAEC 2015

Use the following information to answer the question below
\(\begin{array}{c|c}
& 1/7/10 & 30/6/11 \\
& D & D \\
\hline
\text{Stock} & 1,460 & 4,200 \\
\hline
\text{Motor Car} & 3,600 & 3,200 \\
\hline
\text{Creditors} & 600 & 700
\end{array}\)
Drawings during the year amounted to D1,500.
Closing capital is

A. D8,100
B. D7,400
C. D6,700
D. D5,200