Waec Accounts - Principles of Accounts Questions
Question 66:
An overdraft is usually shown as a
- A Credit balance in the cash column of the cash book
- B Debit balance in the cash column of the cash book
- C Debit balance in the loan account
- D Credit balance in the bank column of the cash book
- E Debit balance in the bank column of the cash book
Question 67:
Cash discount received would be shown in the i. cash book ii. discount received account iii. supplier's account
- A I and iii
- B I, ii, and iii
- C Iii
- D I and ii
- E Ii and iii
Question 68:
The balance of the pretty cash book should be
- A Deducted from the balance of the cash account
- B Shown in the balance sheet as cash-in-hand
- C Reconciled with the bank balance
- D Returned to the sales manager
- E Shown in the balance sheet as liability
Question 69:
Which of the following should be included in the adjusted cash book?
- A Bank charges and commission
- B Cheques issued, presented and cashed
- C Bank deposits
- D Cash payments made by the firm
- E Opening bank overdraft
Question 70:
Which of the following belongs to the Nominal Ledger?
- A Creditors account
- B Debitors account
- C Salaries account
- D Fixtures account
- E Stock account