Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1326:

• WAEC 2016

The financial statement which is an expression of the accounting equation is the

A. Trading account
B. Profit and loss account
C. Balance sheet
D. Statement of cash flow

Question 1327:

• WAEC 1996

Which of the following is the book of original entry for all payments and receipts whether by cash or cheque?

A. Sales day book
B. Purchases day book
C. Cash book
D. Cheque book
E. Journal book

Question 1328:

• WAEC 1996

Which of the following is the book of original entry for all payments and receipts whether by cash or cheque?

A. Sales day book
B. Purchases day book
C. Cash book
D. Cheque book
E. Journal book

Question 1329:

• WAEC 1996

Which of the following is not a cause for the difference between bank statement balance and cash book balance?

A. Bank charges
B. Presented cheque
C. Direct transfer
D. Standing order
E. Uncredited logements

Question 1330:

• WAEC 1996

A sales journal is used to record

A. Sales expenses
B. Cash sales
C. Credit sales
D. Sales return
E. Sales commission