WAEC Accounts (Principles of Accounts) questions

297 questions with answers and explanations. Tap an option to check yourself.

All JAMB WAEC

Question 281· The cash book and discounts· WAEC
The total of the discount allowed column in the cash book is posted to the
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Answer: D. debit side of the discount allowed account
Explanation and discussion
Question 282· The trial balance and errors· WAEC
Mrs Eze lists all her ledger balances to see whether total debits equal total credits. She is preparing a
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Answer: D. trial balance
Explanation and discussion
Question 283· The trial balance and errors· WAEC
Which of these balances appears on the credit side of a trial balance?
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Answer: B. capital
Explanation and discussion
Question 284· The trial balance and errors· WAEC
Which error does NOT affect the agreement of a trial balance?
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Answer: B. error of omission
Explanation and discussion
Question 285· The trial balance and errors· WAEC
An error in which a transaction is completely omitted from the books is an error of
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Answer: A. omission
Explanation and discussion
Question 286· The trial balance and errors· WAEC
A suspense account is opened when
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Answer: D. the trial balance totals disagree
Explanation and discussion
Question 287· The trial balance and errors· WAEC
Recording the purchase of a motor van in the purchases account is an error of
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Answer: B. principle
Explanation and discussion
Question 288· The trial balance and errors· WAEC
Entering the purchase of a machine in the purchases account is an error of
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Answer: A. principle
Explanation and discussion
Question 289· The trial balance and errors· WAEC
Posting a payment from Bello to Bola's account is an error of
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Answer: D. commission
Explanation and discussion
Question 290· The trial balance and errors· WAEC
Posting ₦5,000 received from Ada to Adamu's account is an error of
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Answer: D. commission
Explanation and discussion
Question 291· The trial balance and errors· WAEC
A credit sale to Musa was posted to Moses's account. This error
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Answer: A. will not cause the trial balance to disagree
Explanation and discussion
Question 292· The trial balance and errors· WAEC
When a trial balance does not agree, the difference is placed temporarily in a
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Answer: A. suspense account
Explanation and discussion
Question 293· The trial balance and errors· WAEC
A trial balance is prepared to
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Answer: B. check the arithmetical accuracy of the ledger
Explanation and discussion
Question 294· The trial balance and errors· WAEC
Recording a credit sale of ₦5,400 as ₦4,500 in the sales journal is an error of
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Answer: B. original entry
Explanation and discussion
Question 295· The trial balance and errors· WAEC
Purchase of a typewriter debited to purchases account is an error of
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Answer: B. principle
Explanation and discussion
Question 296· The trial balance and errors· WAEC
A trial balance has debit totals of ₦98,000 and credit totals of ₦100,000. The suspense account will show
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Answer: D. a debit balance of ₦2,000
Explanation and discussion
Question 297· The trial balance and errors· WAEC
Sales of ₦8,000 were entered as ₦800 in both the sales day book and the debtor's account. This is
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Answer: D. an error of original entry
Explanation and discussion

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WAEC Accounts (Principles of Accounts) questions

The total of the discount allowed column in the cash book is posted to the

Mrs Eze lists all her ledger balances to see whether total debits equal total credits. She is preparing a

Which of these balances appears on the credit side of a trial balance?

Which error does NOT affect the agreement of a trial balance?

An error in which a transaction is completely omitted from the books is an error of

A suspense account is opened when

Recording the purchase of a motor van in the purchases account is an error of

Entering the purchase of a machine in the purchases account is an error of

Posting a payment from Bello to Bola's account is an error of

Posting ₦5,000 received from Ada to Adamu's account is an error of

A credit sale to Musa was posted to Moses's account. This error

When a trial balance does not agree, the difference is placed temporarily in a

A trial balance is prepared to

Recording a credit sale of ₦5,400 as ₦4,500 in the sales journal is an error of

Purchase of a typewriter debited to purchases account is an error of

A trial balance has debit totals of ₦98,000 and credit totals of ₦100,000. The suspense account will show

Sales of ₦8,000 were entered as ₦800 in both the sales day book and the debtor's account. This is