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Accounts - Principles of Accounts Past Questions and Answers

Waec Accounts - Principles of Accounts Questions

Question 146:
Which of the following will a supplier send to a customer whose invoice was undercast?
  • A Invoice
  • B Debit note
  • C Cresit note
  • D Cheque
  • E Payment voucher
View Answer & Explanation
Question 147:
Which of the following will a supplier send to a customer whose invoice was undercast?
  • A Invoice
  • B Debit note
  • C Cresit note
  • D Cheque
  • E Payment voucher
View Answer & Explanation
Question 148:
In which of the following books will trade discount be recorded?
  • A Cash book
  • B General ledger
  • C Purchases day book
  • D Invoices
  • E Journal voucher
View Answer & Explanation
Question 149:
In a manufacturing company, wages paid to operatives increase the value of
  • A Urnover
  • B Prime cost
  • C Gross profit
  • D Overhead cost
View Answer & Explanation
Question 150:
The accounting equation is
  • A Assets and liabilities amount to capital
  • B Capital less assets amounts to liabilities
  • C Asseta less liabilities amount to capital
  • D Capital and assets amounts to liability
  • E Fixed assets and current liabilities amount to capital
View Answer & Explanation