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Accounts - Principles of Accounts Past Questions

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2991

Entries in the purchase journal are transferred to the .............

  • A. receivable ledger
  • B. payable ledger
  • C. general ledger
  • D. private ledger
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2992

A reduction n price to encourage prompt payment is........

  • A. trade discount
  • B. quantity discount
  • C. cash discount
  • D. seasonal discount
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2993

Tei Ltd offered 1,560 units of magazines at N60 each. Trade discount is 10%  and cash discount is 10% within 30 days and 5% within 60 days.

The cash discount allowed on the 50th day is?

  • A. 9360
  • B. 8,424
  • C. 4680
  • D. 4212
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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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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
2994

Tei Ltd offered 1,560 units of magazines at N60 each. Trade discount is 10%  and cash discount is 10% within 30 days and 5% within 60 days.

The amount payable if payment is made on the 40th day is...........

  • A. 88,920
  • B. 84,240
  • C. 80,028
  • D. 72,025
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2995

An amount of Le2000 received from a customer, Koffi has been credited to another customer, Kofigo's account. This is an error of?

  • A. principle
  • B. commission
  • C. original entry
  • D. complete reversal
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts