Waec Accounting Past Questions For Year 1999
Question 6
Item in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include
- A. bank charges
- B. standing order
- C. presented cheque
- D. interest overdraft
Question 7
Which of the following will not make a trial balance total to agree?
- A. incomplete posting in the ledger accounts
- B. double entry for each transaction
- C. omission of a trabsaction from the ledger
- D. wrong entry of correct amount into different groups of accounts
Question 8
Profit expressed as a proportion of cost price is
- A. gross profit
- B. mark-up
- C. margin
- D. profit percentage
Question 9
Which of the following is a contra entry?
- A. lodgement of cheques into bank account
- B. Loggement of cash in hand into bank account
- C. withdrawal of cash for private use
- D. treatment of discount receivd in the cash book
Question 10
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Debtors (1/1/98)} & 2,000 \\ \text{Debtors (31/12/98)} & 1,250 \\ \text{Cash received from debtors} & 6,000 \\ \text{Bad debt written off} & 750 \\ \text{Discount allowed} & 500 \\ \text{Discount received} & 125\end{array}\)
The debtors balance to be shown in the Balance Sheet at 31st December, 1998 is
- A. N6,000
- B. N3,250
- C. N2,000
- D. N1,250
