Accounts - Principles of Accounts Past Questions

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1931

The purchases of a typewriter for the office was debited to purchases account. This is an error of

A. commission
B. omission
C. original entry
D. principle
E. compensation

View Answer & Discuss WAEC 1992

1932

Which of the following is not a book of prime entry?

A. cash book
B. puchases day book
C. sles day book
D. journal paper
E. purchases ledger

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1933

Abdul paid off his indebtedness to John by cash. The accounting entries in Abdul's books are: debt

A. cash account, credit John's account
B. cash account, credit debtors account
C. John's account, credit cash account
D. John's account, credit bank account
E. Abdul;s account, credit John's account

View Answer & Discuss WAEC 1993

1934

Adex Company Limited issued ordinary shares N1 each to the public at N1.20. The statement were issued at

A. a discount
B. a profit
C. a loss
D. par
E. a premium

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1935

A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. How much is charges to the profit and loss account for 1990?

A. N1,350
B. N1,080
C. N338
D. N270
E. N90

View Answer & Discuss WAEC 1992

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Accounts - Principles of Accounts Past Questions

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