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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
1586
Which of the following is a contra entry?
  • A. lodgement of cheques into bank account
  • B. Loggement of cash in hand into bank account
  • C. withdrawal of cash for private use
  • D. treatment of discount receivd in the cash book
View Answer & Discuss WAEC 1999
1587
Profit expressed as a proportion of cost price is
  • A. gross profit
  • B. mark-up
  • C. margin
  • D. profit percentage
View Answer & Discuss WAEC 1999
1588
Which of the following will not make a trial balance total to agree?
  • A. incomplete posting in the ledger accounts
  • B. double entry for each transaction
  • C. omission of a trabsaction from the ledger
  • D. wrong entry of correct amount into different groups of accounts
View Answer & Discuss WAEC 1999
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1589
Deferred charges are also known as
  • A. prepayment
  • B. accrued expenses
  • C. accruals
  • D. deferred income
View Answer & Discuss WAEC 1999
1590
The vote book in governmental accounting is used to
  • A. register the name of voters
  • B. control expenditure
  • C. record government revenue
  • D. record taxes paid
View Answer & Discuss WAEC 1999
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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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