Waec Accounting Past Questions For Year 2016
Question 6
Nwoye buys stock and pays by cheque. The entries in the books of Nwoye is Debit
- A. Purchases; Credit cheque
- B. Purchases; Credit bank
- C. Bank; Credit Purchases
- D. Cheque; Credit Purchases
Question 7
Which of the following are impersonal accounts ?
I. Investment
II. Creditors
III. Premises
IV. Debtors
V. Salaries
- A. Investment
- B. Salaries
- C. I, III and IV
- D. I, III and V
- E. II and IV
- F. III and V
Question 8
In the preparation of the trading account of omuya Ltd., the company included credit sales of N18,000 made during the year. The concept guiding this treatment is the
- A. Materiality concept
- B. Dual aspect concept
- C. Matching concept
- D. Money measurement concept
Question 9
Which of the following items of expense involves actual cash payment?
- A. Discounts allowed
- B. Provision for depreciation
- C. Carriage outwards
- D. Allowance for doubtful debts
Question 10
Bank reconciliation statement is prepared to reconcile the differences between
- A. Bank statement and credit transfers
- B. Cash book and bank transfers
- C. Bank statement and cash transfers
- D. Cash book and bank statement
