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Accounts - Principles of Accounts Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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1041

Where a wrong figure occurs in only one account with the second figure correctly stated, this is an error of

  • A. transposition
  • B. compensation
  • C. omission
  • D. commission
View Answer & Discuss WAEC 2010
1042

Which of the following is added to the proprietor's capital?

  • A. Net profit
  • B. gross profit
  • C. net sales
  • D. gross sales
View Answer & Discuss WAEC 2010
1043

The balance in a sales Ledger Counter Account indicates the

  • A. difference between debtors and creditors
  • B. total sales
  • C. total purchases
  • D. total debtors
View Answer & Discuss WAEC 2010
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1044
A temporary difference of bank occurs in only one account with the second figure stated, this is an error of
  • A. adjustment account
  • B. suspense account
  • C. imprest account
  • D. appropriation account
View Answer & Discuss (1) WAEC 2010
1045

In the preparation of bank reconciliation statement cheque are

  • A. added to the balance as per bank statement
  • B. deduced from the the balance as per bank statement
  • C. added to the balance as per bank statement
  • D. ignored totally
View Answer & Discuss (2) WAEC 2010
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts