Accounts - Principles of Accounts 2008 WAEC Past Questions

46

Trade creditors personal accounts are found in the

A. purchases ledger
B. sales ledger
C. general ledger
D. sales day book

View Answer & Discuss WAEC 2008

47

Which of the following is a norminal account?

A. bank account
B. cash account
C. sales account
D. stock account

View Answer & Discuss WAEC 2008

48

Which of the following is not an instrument for controlling public expenditure?

A. constitution
B. financial regulation
C. budget
D. memorandum

View Answer & Discuss WAEC 2008

49

Use the following to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditors} & 30,000 \\ \text{Credit sales} & 100,000\\ \text{Credit purchases} & 80,000 \\ \text{Bad debts}& 5,500\\ \text{Set-offs} & 65,500\end{array}\)
Closing debtors figure is

A. ₦140,000
B. ₦134,500
C. ₦80,000
D. ₦69,000

View Answer & Discuss WAEC 2008

50

Use the following to answer the given question
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening debtors} & 40,000\\ \text{Opening creditors} & 30,000 \\ \text{Credit sales} & 100,000\\ \text{Credit purchases} & 80,000 \\ \text{Bad debts}& 5,500\\ \text{Set-offs} & 65,500\end{array}\)
Closing creditors figure is

A. ₦115,500
B. ₦110,000
C. ₦95,500
D. ₦44,500

View Answer & Discuss WAEC 2008

Accounts - Principles of Accounts 2008 WAEC Past Questions

Subjects

Sign In