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Accounts - Principles of Accounts 1992 WAEC Past Questions

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1
Which of the following will a supplier send to a customer whose invoice was undercast?
  • A. invoice
  • B. debit note
  • C. cresit note
  • D. cheque
  • E. payment voucher
View Answer & Discuss WAEC 1992
2
In which of the following books will trade discount be recorded?
  • A. cash book
  • B. general ledger
  • C. purchases day book
  • D. invoices
  • E. journal voucher
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3
In a manufacturing company, wages paid to operatives increase the value of
  • A. urnover
  • B. prime cost
  • C. gross profit
  • D. overhead cost
View Answer & Discuss WAEC 1992
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4
The accounting equation is
  • A. assets and liabilities amount to capital
  • B. capital less assets amounts to liabilities
  • C. asseta less liabilities amount to capital
  • D. capital and assets amounts to liability
  • E. fixed assets and current liabilities amount to capital
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5
The purchases of a typewriter for the office was debited to purchases account. This is an error of
  • A. commission
  • B. omission
  • C. original entry
  • D. principle
  • E. compensation
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