Accounts - Principles of Accounts 1989 WAEC Past Questions

31

The term bad debt means

A. a debt written on bad receipts
B. debt owed by a bad person
C. debt that can not be collected
D. overcharge on a debtors account
E. debt paid with bad currency notes

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32

a subsidiary record is a book

A. found in the ledger
B. of subsidiary entries
C. of original entry
D. containing the final accounts
E. of final entry

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33

Which of the following does not belong to the group?

A. a proprietor of a business
B. an entrepreneur
C. an investor
D. a debtor
E. a creeditor

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34

Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNT
\(\begin{array}{c|c} 1986 & & N & 1986 & & N \\ \hline Jan. 1 & \text{Balance b/d} & 1,300 & Jan.1 & \text{Balance b/d} & 86 \\ 31 & sales & 7,630 & & bank & 6,555 \\ & \text{dishonoured cheques} & 250 & & discount& 345 \\ & \text{stopped cheques} & 100 & & returns & 130 \\ & \text{balance c/d} & 92 & & \text{Purchases ledger} & 360 \\ & & & & \text{balance c/d} & 1,896 \\ & & 9,372 & & & 9,372 \\ Feb. 1 & \text{balance b/d} & 1,896 & Feb.1 & \text{balance b/d} & 92 \end{array}\)
The amount of N7,630 represents

A. total credit sales
B. total of all the debtors of the firm
C. the total sales for the month
D. cash sales only
E. the double entry for the total of the sales account

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35

Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNT
\(\begin{array}{c|c} 1986 & & N & 1986 & & N \\ \hline Jan. 1 & \text{Balance b/d} & 1,300 & Jan.1 & \text{Balance b/d} & 86 \\ 31 & sales & 7,630 & & bank & 6,555 \\ & \text{dishonoured cheques} & 250 & & discount& 345 \\ & \text{stopped cheques} & 100 & & returns & 130 \\ & \text{balance c/d} & 92 & & \text{Purchases ledger} & 360 \\ & & & & \text{balance c/d} & 1,896 \\ & & 9,372 & & & 9,372 \\ Feb. 1 & \text{balance b/d} & 1,896 & Feb.1 & \text{balance b/d} & 92 \end{array}\)
The sum of N6,555 described as 'Bank' represents

A. cash sales for the month, including discounts
B. cash sales for the month excluding discounts
C. receipts from trade debtors only
D. receipts from all the debtors of the business
E. takings from both cash and credit sales

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Accounts - Principles of Accounts 1989 WAEC Past Questions

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