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Accounts - Principles of Accounts Past Questions

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1751
A payment of N150 to a credit
  • A. an increase in assets only
  • B. a reduction of assets only
  • C. a reduction in assets and liabilities
  • D. an increase in assets and liabilities
  • E. a reduction in the bank account
View Answer & Discuss WAEC 1996
1752
Which of the following is not charged to Manufacturing Account?
  • A. raw materials
  • B. factory's wages
  • C. Distribution expenses
  • D. royalties
View Answer & Discuss WAEC 1996
1753
Discount received is shown in the
  • A. credit side of sales ledger balances
  • B. debit side f bought ledger balances
  • C. credit side of bought ledger balances
  • D. debit side of sales ledger balances
  • E. sales ledger balances as contra entry
View Answer & Discuss WAEC 1996
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1754

Which of the following does not appear in a bank statement?

  • A. dividend received on behalf of customers
  • B. bank charges
  • C. insurance premium paid on behalf of customers
  • D. dishonoured cheques
  • E. uncredited charges
View Answer & Discuss (1) WAEC 1996
1755
Impersonal Accounts contain
  • A. real and cash accounts
  • B. capital and nominal accounts
  • C. real and normal accounts
  • D. investment and real accounts
  • E. interest received and real account
View Answer & Discuss WAEC 1996
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