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Accounts - Principles of Accounts 2011 WAEC Past Questions

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16

Goods returned by the buyer is recorded in the seller's book as

  • A. carriage inwards
  • B. carriage outwards
  • C. returns outwards
  • D. returns inwards
View Answer & Discuss (2) WAEC 2011
17
The method of ascertaining capital from income record is by preparing the
  • A. cash book
  • B. statement of affairs
  • C. suspense account
  • D. control account
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18
A petty cashier operates with an imprest of D1,000 per week. At the end of the week he had disbursed D920. How much is needed to restore the imprest?
  • A. D1,920
  • B. D1,000
  • C. D920
  • D. D80
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19
Accumulated fund is also referred to as
  • A. surplus
  • B. porofit
  • C. deficit
  • D. capital
View Answer & Discuss WAEC 2011
20
Subscriptions owed by members of a club is a/an
  • A. asset
  • B. liability
  • C. profit
  • D. surplus
View Answer & Discuss WAEC 2011
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