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Accounts - Principles of Accounts 1990 WAEC Past Questions

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21
A balance of N102 on waged account was transferred as N120. This is error of
  • A. transposition
  • B. omission
  • C. principle
  • D. original entry
  • E. compensation
View Answer & Discuss (1) WAEC 1990
22
Carriage inwards is shown on the
  • A. debit side of the profit and loss account
  • B. credit side of the trading account
  • C. debit side of the trading account
  • D. credit side of the profi and loss account
  • E. debit side of the cash book
View Answer & Discuss WAEC 1990
23
Stock is N200 at start, and N320 at close purchases N2,055 and sales N3,189. Find the cost of goods sold
  • A. N3,186
  • B. N2,866
  • C. N2,255
  • D. N2,175
  • E. N1,935
View Answer & Discuss WAEC 1990
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24
Stock is N200 at start, and N320 at close purchases N2,055 and sales N3,189. The value of goods available for sale will be
  • A. 3,186
  • B. N2,255
  • C. N2,175
  • D. N2,055
  • E. N1,935
View Answer & Discuss WAEC 1990
25
The salary of a shop keeper who sells goods would be charged in the
  • A. balance sheet
  • B. sales account
  • C. profit and loss account
  • D. trading account
  • E. manufacturing account
View Answer & Discuss (1) WAEC 1990
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