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Accounts - Principles of Accounts 2005 WAEC Past Questions

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1
The systematic recording of business transactions is
  • A. auditing
  • B. book-keeping
  • C. debiting
  • D. crediting
View Answer & Discuss WAEC 2005
2
An allowance given to a customer by a supplier for prompt payment is
  • A. trade discount
  • B. discount received
  • C. cash discount
  • D. cash rebate
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3
Which of the following is not contained in a journal? To record
  • A. small and repetive cash disbursemens
  • B. purchase and sale of fixed assets on credit
  • C. writing off bad debts
  • D. debtors and creditors
View Answer & Discuss WAEC 2005
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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4
A trial balance is a list of
  • A. current assets
  • B. current liabilities
  • C. debit and credit balances
  • D. debtors and creditors
View Answer & Discuss (1) WAEC 2005
5
Which of the following is found in the private ledger?
  • A. rent account
  • B. sales account
  • C. drawings account
  • D. bank account
View Answer & Discuss WAEC 2005
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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