Waec Accounts - Principles of Accounts Past Questions and Answers

Question 441:

• WAEC 1999

Errors in the ledger can be corrected through

A. Journal proper
B. Sales day book
C. Purchases day book
D. Control account

Question 442:

• WAEC 1999

Item in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include

A. Bank charges
B. Standing order
C. Presented cheque
D. Interest overdraft

Question 443:

• WAEC 1999

Discount received is

A. Credited to the trading account
B. Debited to the Profit and Loss Account
C. Credited to the Profit and Loss Account
D. Credited to the Appropriation Account

Question 444:

• WAEC 1999

Carriage outwards is charged to

A. Credited to the trading account
B. Debited to the profit and loss account
C. Credited to the profit and loss account
D. Credited to the appropriation account

Question 445:

• WAEC 1999

Carriage outwards is charged to

A. Trading account
B. Appropriation account
C. Purchases account
D. Profit and loss account