2004 - WAEC Accounting Past Questions & 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
CORRECT OPTION: a
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
CORRECT OPTION: a
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
CORRECT OPTION: b
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
CORRECT OPTION: d
5
Rent receivable account is an example of
A
nnorminal account
B
real account
C
personal account
D
private account
CORRECT OPTION: a
6
Which of the following is not a source document?
A
credit note
B
invoice
C
debit note
D
bank note
CORRECT OPTION: d
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
CORRECT OPTION: a
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
CORRECT OPTION: a
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
CORRECT OPTION: d
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
CORRECT OPTION: b
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