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Accounts - Principles of Accounts Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1401
Which of the following is not a credit item in the sales ledger control account?
  • A. cash paid
  • B. discount allowed
  • C. dishonoured cheque
  • D. returns inward
View Answer & Discuss (1) WAEC 2003
1402
Which of the following items is found on he credit side of a sales Ledger Control Account?
  • A. credit sales
  • B. debtors cheques dishonoured
  • C. interest on overdue account
  • D. bad debts written off
View Answer & Discuss WAEC 2003
1403
Use the following information to answer the given question
\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditors & 4,200 & 5,200 \\ stocks & 3,600 & 3,200 \\ \text{cash paid to creditors during the year was ₦18,000} \end{array}\)
Purchases for the year was
  • A. ₦19,400
  • B. ₦19,000
  • C. ₦18,000
  • D. ₦17,000
View Answer & Discuss WAEC 2003
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1404
Use the following information to answer the given
\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditors & 4,200 & 5,200 \\ stocks & 3,600 & 3,200 \\ \text{cash paid to creditors during the year was ₦18,000} \end{array}\)
Cost of sales for the year was
  • A. ₦19,800
  • B. ₦19,400
  • C. ₦18,400
  • D. ₦17,400
View Answer & Discuss WAEC 2003
1405
The cost of raw materials consumed is determined in the Manufacturing Account as
  • A. opening stock plus purchases less closing stock
  • B. purcheses plus closing stock less opening stock
  • C. cost of materials available plus closing stock
  • D. cost of materials available less opening stock
View Answer & Discuss WAEC 2003
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Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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