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Accounts - Principles of Accounts 2025 JAMB Past Questions

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56

Which of the following is not a credit item in the Sales Ledger Control Account?

  • A. Dishonoured cheque
  • B. Discount allowed
  • C. Cash received
  • D. Returns inward
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57

Which of the following is determined in the Trading Account?

  • A. Net profit
  • B. Prime cost
  • C. Factory overheads
  • D. Cost of goods sold
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58

An example of a self-balancing account is the

  • A. control account
  • B. creditors account
  • C. suspense account
  • D. debtors account
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59

Which of the following transactions is a revenue expenditure?

  • A. Purchase of a new engine
  • B. Construction of office wall
  • C. Purchase of fuel for vehicle
  • D. Purchase of a plant
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60

Suspense account is used in the correction of

  • A. errors that affect the agreement of a trial balance
  • B. errors that affect the accuracy of the net profit
  • C. errors that do not affect the agreement of a trial balance
  • D. all errors in the trial balance
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
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