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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
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1576
A reserve is an amount
  • A. to be paid to creditors
  • B. set out of profit for future use
  • C. for paying dividends
  • D. recovered from debts earlier written off
View Answer & Discuss WAEC 2000
1577
The document which authorizes the Minister of Finance to release fund for government expenditure is
  • A. a warrant
  • B. a bank cheque
  • C. an order
  • D. a vote book
View Answer & Discuss WAEC 2000
1578
Errors in the ledger can be corrected through
  • A. journal proper
  • B. sales day book
  • C. purchases day book
  • D. control account
View Answer & Discuss WAEC 1999
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1579
Item in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include
  • A. bank charges
  • B. standing order
  • C. presented cheque
  • D. interest overdraft
View Answer & Discuss WAEC 1999
1580
Discount received is
  • A. credited to the trading account
  • B. debited to the Profit and Loss Account
  • C. credited to the Profit and Loss Account
  • D. credited to the Appropriation Account
View Answer & Discuss WAEC 1999
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