Accounts - Principles of Accounts Past Questions

Exam Type:

Exam year:

Question Type:

Clear Selections
Change Subject Post a Question Check Syllabus Study My Bookmarks Past Questions Videos Watch Video Lessons Download App

WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

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

Your School's Whatsapp Group - Join Us now

1401

Which of the following is not a credit item in the sales ledger control account?

A. cash paid
B. discount allowed
C. dishonoured cheque
D. returns inward

View Answer & Discuss (1) WAEC 2003

1402

Which of the following items is found on he credit side of a sales Ledger Control Account?

A. credit sales
B. debtors cheques dishonoured
C. interest on overdue account
D. bad debts written off

View Answer & Discuss WAEC 2003

1403

Use the following information to answer the given question
\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditors & 4,200 & 5,200 \\ stocks & 3,600 & 3,200 \\ \text{cash paid to creditors during the year was ₦18,000} \end{array}\)
Purchases for the year was

A. ₦19,400
B. ₦19,000
C. ₦18,000
D. ₦17,000

View Answer & Discuss WAEC 2003

1404

Use the following information to answer the given
\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditors & 4,200 & 5,200 \\ stocks & 3,600 & 3,200 \\ \text{cash paid to creditors during the year was ₦18,000} \end{array}\)
Cost of sales for the year was