Waec Accounting Past Questions For Year 2015
Question 1
Which of the following describes a trial balance?
- A. It is a special account
- B. It is a list of balances in the books
- C. It reveals the financial position of a business
- D. It shows all the entries in the books of a business
Question 2
Which of the following is not a real account?
- A. Plant account
- B. Salaries account
- C. Creditors account
- D. Trading account
Question 3
Goods returned to a supplier is
- A. Debited to returns outward account
- B. Credited to returns outwards account
- C. Debited to returns inwards account
- D. Credited to returns inwards account
Question 4
Assets acquired is recorded by debiting _______?
- A. Asset Account, Crediting Cash Account
- B. Cash Account, Crediting Asset Account
- C. Purchase of Business Account, Crediting Sale of Business Account
- D. Asset Account, Crediting Purchase of Business Account
Question 5
Purchase invoice is first entered in the
- A. Purchases Account
- B. Cash Book
- C. Sales Journal
- D. Purchases Journal
