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Accounts - Principles of Accounts Past Questions

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2071
The petty cash book can have
  • A. a debit balance only
  • B. a credit balance only
  • C. both debit and credit balances
  • D. a debit or nil balance
  • E. a nill balance only
View Answer & Discuss WAEC 1989
2072
Which of the following may have been recorded in the cash book and fail to appear in the Bank statement?
  • A. bank charges and commission
  • B. cheques issued, presented and cashed
  • C. bank lodgements
  • D. payments made by the bank on a tanding order
  • E. opening bank overdraft
View Answer & Discuss WAEC 1989
2073
Which of the following accounts belongs to the personal ledger?
  • A. purchases account
  • B. capital account
  • C. machinery account
  • D. depreciation account
  • E. rent and rentals
View Answer & Discuss (3) WAEC 1989
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2074

Which of the following accounts belongs to the private ledger?

  • A. drawing accounts
  • B. premises account
  • C. machinery account
  • D. depreciation account
  • E. V. Okafor's account
View Answer & Discuss (1) WAEC 1989
2075
A cheque for N400 drawn in favour of Jeje was posted to the credit of his account. The entry necessary to correct the error is
  • A. a debit suspense account N800,credit Jeje's account N800
  • B. debit bank to correct N400, credit Jeje's account N400
  • C. debit suspense account N400, credit Jeje's account N400
  • D. debit Jeje's account N800, credit suspense account N800
  • E. debit Jeje's account N400, credit suspense account N400
View Answer & Discuss WAEC 1989
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