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Accounts - Principles of Accounts 2006 WAEC Past Questions

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41
The amount allowed off the cost price of an article to stimulate patronage is
  • A. cash discount
  • B. trade discount
  • C. discount on debt
  • D. discount on bills
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42
Which of the following columns of a three column cash book are memoranda? i. Discount ii. Discount allowed iii. Cash iv. Bank
  • A. i ans ii only
  • B. i and iii only
  • C. ii and iii only
  • D. iii and iv only
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43
Where the head office maintains all books of account, goods sent to branch is credited to
  • A. goods sent to branch account
  • B. branch stock account
  • C. branch stockk adjustment account
  • D. head office current account
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44
Which of the following is a journal as well as an account?
  • A. sales day book
  • B. cash book
  • C. general journal
  • D. purchases journal
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45
Use the following information to answer the given question
\(\begin{array}{c|c} & D\\ \hline \text{Balance as peer cash book} & 8,400\\ \text{Banking charges} & 300 \\ \text{standing order paid} & 2,500 \\ \text{Unpresented cheques} & 2,800 \end{array}\)
The adjustment cash book balance is
  • A. D11,200
  • B. D8,400
  • C. D6,200
  • D. D5,600
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