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Accounts - Principles of Accounts 2018 WAEC Past Questions

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6

One of the characteristics of useful accounting information is--------

  • A. profitability
  • B. comparability
  • C. efficiency
  • D. liquidity
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7

Which of the following items is found on the debit side of the trial balance?

  • A. provision for doubtful debts
  • B. discount allowed
  • C. discount received
  • D. returns outwards
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8

Which of the following transactions is a revenue expenditure?

  • A. purchase of plant
  • B. purchase of a new engine
  • C. construction of office wall
  • D. purchase of fuel for vehicle
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9

Credit notes received are source documents for.........

  • A. returns inwards journal
  • B. returns outwards journal
  • C. purchase journal
  • D. sales journal
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10

A document forwarded to a supplier showing unsatisfactory goods is................................

  • A. debit note
  • B. credit note
  • B. invoice
  • D. waybill
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