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Accounts - Principles of Accounts 1996 WAEC Past Questions

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1
Which of the following is the book of original entry for all payments and receipts whether by cash or cheque?
  • A. sales day book
  • B. purchases day book
  • C. cash book
  • D. cheque book
  • E. journal book
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2
Which of the following is not a cause for the difference between bank statement balance and cash book balance?
  • A. bank charges
  • B. presented cheque
  • C. direct transfer
  • D. standing order
  • E. uncredited logements
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3
A sales journal is used to record
  • A. sales expenses
  • B. cash sales
  • C. credit sales
  • D. sales return
  • E. sales commission
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4
Which of the following fixed assets is not depreciable?
  • A. building
  • B. tools
  • C. land
  • D. Motor van
  • E. Furniture
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5
Payment is shown in the Balance Sheet as
  • A. Current asset
  • B. liability
  • C. capital
  • D. fixed asset
  • E. investment
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