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Accounts - Principles of Accounts 1994 WAEC Past Questions

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31
Purchase of goods for N1,000 from chukwu had been entered in Cukwura's account. This is an error of
  • A. omission
  • B. compensation
  • C. commission
  • D. principle
  • E. original entry
View Answer & Discuss WAEC 1994
32
A typewriter for office use sold for N5,000 was posted to sales account. This is an error of a
  • A. omission
  • B. compensation
  • C. commission
  • D. principle
  • E. original entry
View Answer & Discuss WAEC 1994
33
Goods purchased for N92 was entered in the books as N29. This is an error of
  • A. compensation
  • B. omission
  • C. commission
  • D. principle
  • E. original entry
View Answer & Discuss WAEC 1994
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34
John brought in an additional plant into his business. What are the accounting entries necessary to reflect the transaction?
  • A. debit plant account, credit current account
  • B. debit current account, credit plant account
  • C. credit plannt account, credit profit and loss account
  • D. debit profit and loss account, credit plant account
  • E. debit plant account, credit capital account
View Answer & Discuss WAEC 1994
35
Patent and Trade mark are classified under
  • A. fixed assets
  • B. current assets
  • C. intangible assets
  • D. wasting assets
  • E. investments
View Answer & Discuss WAEC 1994
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