Waec Accounting Past Questions For Year 2014
Question 1
In the operation of an imprest of petty cash, the
- A. petty cashier pays all expenses
- B. petty cashier pays money to the accountant
- C. petty cashier regularly begins each period with the same amount of money
- D. main cashier accounts to the petty cashier for some experiences made by him
Question 2
A book that contains individual accounts of suppliers is the
- A. purchase ledger
- B. general ledger
- C. nominal ledger
- D. sales ledger
Question 3
The source document used to make entries in the purchase day book is
- A. debt note
- B. credit note
- C. invoice
- D. receipt
Question 4
Which of the following transactions will result in disagreement between the cash book and the bank statements?
- A. selling of goods on credit to a customer
- B. withdrawal of goods by the proprietor for his personel use
- C. cheque paid directly into the bank account by a customer
- D. omission of purchases received from a supplier on credit
Question 5
Net turnover is referred to as
- A. purchases
- B. assets
- C. sales
- D. profits
