Waec Accounts - Principles of Accounts Past Questions and Answers

Question 1571:

• WAEC 2021

Subsidiary books of account are used to record transactions

A. Made in the same period
B. Of a similar nature
C. Involving minor amounts
D. Without source documents

Question 1572:

• WAEC 2021

The petty cash account has an imprest of GH¢36,000 and a debit balance of GH¢10,000 at the end of the month.The reimbursement required would be

A. GH¢46,000
B. GH¢36,000
C. GH¢26,000
D. GH¢10,000

Question 1573:

• WAEC 2021

Commercial activities undertaken by a social club to raise funds include

A. Donation
B. Bar
C. Grant
D. Subscription

Question 1574:

• WAEC 2021

The final stage of accounting process is

A. Interpretation
B. Recording
C. Reporting
D. Summarizing

Question 1575:

• WAEC 2021

The value of goods sent to a branch is debited to the

A. Goods sent to branch account
B. Branch debtors account
C. Branch adjustment account
D. Branch stock account