WAEC Accounts (Principles of Accounts) questions: Source documents and books of original entry

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

1. Question 1· Source documents and books of original entry· WAEC

   The journal proper is used to record

   • Adaily credit sales
   • Bcash sales
   • Ctransactions not entered in other books, such as purchase of fixed assets on credit
   • Dpetty expenses

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   Explanation and discussion

2. Question 2· Source documents and books of original entry· WAEC

   A paying-in slip is evidence of

   • Amoney deposited into a bank
   • Bgoods bought on credit
   • Cgoods returned
   • Dpetty cash spent

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   Explanation and discussion

3. Question 3· Source documents and books of original entry· WAEC

   Returns inwards are recorded from

   • Adebit notes issued
   • Bcredit notes issued to customers
   • Cinvoices received
   • Dreceipts issued

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   Explanation and discussion

4. Question 4· Source documents and books of original entry· WAEC

   A seller who receives back damaged goods from a customer sends the customer a

   • Adebit note
   • Bcredit note
   • Cpro forma invoice
   • Dstatement of account

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   Explanation and discussion

5. Question 5· Source documents and books of original entry· WAEC

   The purchases journal records

   • Acredit purchases of goods for resale
   • Bcash purchases
   • Cpurchases of non-current assets
   • Dreturns outwards

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   Explanation and discussion

6. Question 6· Source documents and books of original entry· WAEC

   A cheque counterfoil is the source document for

   • Apayments made by cheque
   • Bcredit sales
   • Cgoods returned
   • Ddiscounts received

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   Explanation and discussion

7. Question 7· Source documents and books of original entry· WAEC

   In accounting, the cheque counterfoil (stub) is the source document for

   • Agoods returned
   • Bcredit sales
   • Cpayments made by cheque
   • Dpetty cash

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   Explanation and discussion

8. Question 8· Source documents and books of original entry· WAEC

   The returns inwards book is written up from

   • Acredit notes issued
   • Binvoices received
   • Ccheque stubs
   • Dpayslips

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   Explanation and discussion

9. Question 9· Source documents and books of original entry· WAEC

   The book of original entry for credit purchases of goods is the

   • Acash book
   • Bsales day book
   • Cpurchases day book
   • Djournal proper

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   Explanation and discussion

10. Question 10· Source documents and books of original entry· WAEC

    A receipt is issued as evidence of

    • Agoods returned
    • Bgoods ordered
    • Cpayment received
    • Dcredit allowed

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    Explanation and discussion

11. Question 11· Source documents and books of original entry· WAEC

    A debit note is sent by a buyer to

    • Apay for goods
    • Border goods
    • Cinform the seller of goods returned or an overcharge
    • Drequest a loan

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    Explanation and discussion

12. Question 12· Source documents and books of original entry· WAEC

    A petty cash voucher supports

    • Adepreciation charges
    • Bcredit purchases
    • Cbank deposits
    • Dsmall cash payments

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    Explanation and discussion

13. Question 13· Source documents and books of original entry· WAEC

    The source document for recording credit purchases is the

    • Acheque counterfoil
    • Breceipt
    • Cinvoice received
    • Dpaying-in slip

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    Explanation and discussion

14. Question 14· Source documents and books of original entry· WAEC

    The source document for entries in the sales journal is the

    • Areceipt
    • Bsales invoice
    • Ccheque counterfoil
    • Dcredit note received

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    Explanation and discussion