Accounts - Principles of Accounts 1990 WAEC Past Questions

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Cash discount received would be shown in the i. cash book ii. discount received account iii. supplier's account

A. i and iii
B. i, ii, and iii
C. iii
D. i and ii
E. ii and iii

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The balance of the pretty cash book should be

A. deducted from the balance of the cash account
B. shown in the balance sheet as cash-in-hand
C. reconciled with the bank balance
D. returned to the sales manager
E. shown in the balance sheet as liability

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Which of the following should be included in the adjusted cash book?

A. bank charges and commission
B. cheques issued, presented and cashed
C. bank deposits
D. cash payments made by the firm
E. opening bank overdraft

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Which of the following belongs to the Nominal Ledger?

A. creditors account
B. debitors account
C. salaries account
D. fixtures account
E. stock account

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Which of the following will not affect the agreement of the rial balance? i. compensating error ii. debiting an item instead of crediting it iii. making only a single entry

A. i
B. ii
C. iii
D. ii and iii
E. i, ii ans iii

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Accounts - Principles of Accounts 1990 WAEC Past Questions

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