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Accounts - Principles of Accounts 2015 WAEC Past Questions

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11

Discount received account is a

  • A. Real account
  • B. Personal account
  • C. Nominal account
  • D. Profit and loss account
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12

Which of the following accounts has a credit balance?

  • A. Capital
  • B. Cash
  • C. Drawings
  • D. Premises
View Answer & Discuss (1) WAEC 2015
13

The accounting entry to correct sales day book overcast is?

  • A. Debit sales account and credit debtors account
  • B. Debit suspense account and credit sales account
  • C. Debit debtors account and credit suspense account
  • D. Debit sales account and credit suspense account
View Answer & Discuss (1) WAEC 2015
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14

Which of the following expresses the accounting equation?

  • A. Capital + assets = liabilities
  • B. Assets - liabilities = Capital
  • C. Liabilities + Current Assets = Fixed assets
  • D. Liabilities - Capital = Current assets
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15

When the invoice of a customer is overcast, the supplier will send to him a

  • A. Cheque
  • B. Payment voucher
  • C. Debit note
  • D. Credit note
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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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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076