Waec Accounting Past Questions For Year 2014
Question 6
The accounting treatment for a dishonored cheque is; debit
- A. customer's account; credit bank account
- B. bank account; credit customer's account
- C. customer's account; credit sales account
- D. sales account; credit customer account
Question 7
Which of the following subsidiary books involves cash movements?
- A. sales day book
- B. purchases day book
- C. returns inwards book
- D. petty cash book
Question 8
An example of a credit entry in a profit and loss account is
- A. carriage inwards
- B. carriage outwards
- C. discounts allowed
- D. discounts received
Question 9
Us the following information to answer the question given.
\(\begin{array}{c|c} \text{Cost of motor vehicle - 1\1\12} & ₦ 85,000 \\ \text{Residual value} & ₦5,000 \\ \text{Estimated useful lifespan 10 years} & \end{array}\).
The business make use of the straight line method for providing depreciation, the annual depreciation is
- A. ₦9,000
- B. ₦8,500
- C. ₦8,000
- D. ₦6,500
Question 10
Which of the following is entered in the general journal?
- A. purchase of goods
- B. sale of goods on credit
- C. returns inward
- D. aquisition of fixed assets
