by Sunday | Aug 18 | Accounting WAEC
A. receipts from debtors B. returns inwards C. returns outwards D. dishonoured cheque E. discount allowed Correct Answer: Option C – returns outwards
by Sunday | Aug 18 | Accounting WAEC
A. amount of goods available was understated B. cost of sales was understated C. amount of purchase returns was understated D. amount of sales was understated E. amount of sales returns was understated Correct Answer: Option C – amount of purchase returns was...
by Sunday | Aug 18 | Accounting WAEC
A. they are recorded in the ledger only B. they are not different from cash discount C. they are recorded in journal only D. they are recorded in ledgers and journals E. each discount receives double entries Correct Answer: Option C – they are recorded in...
by Sunday | Aug 18 | Accounting WAEC
A. sales journal B. principle journal C. purchases journal D. return inwards journal E. return outwards journal Correct Answer: Option B – principle journal
by Sunday | Aug 18 | Accounting WAEC
A. accrued expenses B. accrued income C. prepaid expenses D. income received in advance E. preliminary expenses Correct Answer: Option E – preliminary expenses
by Sunday | Aug 18 | Accounting WAEC
A. prepayment B. stock C. accrual D. land E. debenture Correct Answer: Option D – land