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2004 - WAEC Accounting Past Questions and Answers - page 1

1

The sales day Book is used to record

A
cash and credit sales
B
credit sales
C
cash sales
D
sales to middleman
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2

The principle entry book-keeping states that every

A
every debit entry must have a corresponding credit entry
B
debtor must have a creditor
C
double debit must must have a double credit entry
D
account debited should also be credited
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3

Which of the following is used to record the purchase of fixed asset on credit?

A
sales journal
B
journal proper
C
purchases journal
D
cash book
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4

Which of the following is both a subsidiary book and a ledger?

A
sales journal
B
purchases journal
C
returns inward book
D
cash book
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5

Rent receivable account is an example of

A
nnorminal account
B
real account
C
personal account
D
private account
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6

Which of the following is not a source document?

A
credit note
B
invoice
C
debit note
D
bank note
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7

Pending the location of an error, the difference disclosed in a trial balance is temporarily treated in

A
suspense Account
B
trading account
C
control account
D
profit and loss account
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8

Which of the following items is not shown in the Trial Balance

A
closng stock value
B
opening stock balance
C
opening dentors balance
D
closing asset value
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9

The total of the purchases day book is posted to the purchases account in the

A
general ledger
B
purchases journal
C
private ledger
D
purchases ledger
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10

Use the following information to answer the question
(\begin{array}{c|c} \text{prepared} & \text{1/01/2003} & N600.00\ \text{Rent paid} & \text{31/12/2003} & N3,000.00\ \text{Rent prepaid} & \text{31/12/2003} & N400.00\end{array})
Rent for 2013 amounted to

A
N4,000
B
N3,200
C
N3,000
D
N2,800
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