Waec Accounts - Principles of Accounts Questions
Question 61:
Which of the following is true of the uses of the journal proper? i. correction of errors. ii. opening and closing the accounting books iii. recording cash purchases
- A I
- B Ii
- C Iii
- D I and ii
- E I and iii
Question 62:
The principal of double entry book-keeping is that
- A Every debtor must have a creditor
- B Every account debited must be immediately credited
- C For every debit there must be a corresponding credit
- D For every double debit, threre must be a double credit
- E For every item there must be a doubkle entry
Question 63:
The sales day book will show goods sold
- A For cash and credit
- B For cash
- C On credit
- D To wholwsalers
- E To retailers
Question 64:
A credit note from a supplier for damaged goods would first be entered in the
- A Purchase day book
- B Sales day book
- C Cash book
- D Returns inwards book
- E Returns outwards book
Question 65:
The purchase of a typewriter for office use for N2,500 should be debited to
- A Bank accoun
- B Sales account
- C Cash account
- D Purchases account
- E Assets account