JAMB and WAEC Accounts (Principles of Accounts) questions

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

All JAMB WAEC

Question 521· Source documents and books of original entry· WAEC
A seller who receives back damaged goods from a customer sends the customer a
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Answer: B. credit note
Explanation and discussion
Question 522· Source documents and books of original entry· JAMB
The source document for recording a credit purchase of goods is the
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Answer: D. invoice received from the supplier
Explanation and discussion
Question 523· Source documents and books of original entry· JAMB
Which of these is recorded in the purchases journal?
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Answer: C. Goods for resale bought on credit
Explanation and discussion
Question 524· Source documents and books of original entry· WAEC
The purchases journal records
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Answer: A. credit purchases of goods for resale
Explanation and discussion
Question 525· Source documents and books of original entry· JAMB
The sales day book is written up from
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Answer: D. copies of invoices sent to customers
Explanation and discussion
Question 526· Source documents and books of original entry· WAEC
A cheque counterfoil is the source document for
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Answer: A. payments made by cheque
Explanation and discussion
Question 527· Source documents and books of original entry· WAEC
In accounting, the cheque counterfoil (stub) is the source document for
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Answer: C. payments made by cheque
Explanation and discussion
Question 528· Source documents and books of original entry· WAEC
The returns inwards book is written up from
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Answer: A. credit notes issued
Explanation and discussion
Question 529· Source documents and books of original entry· WAEC
The book of original entry for credit purchases of goods is the
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Answer: C. purchases day book
Explanation and discussion
Question 530· Source documents and books of original entry· JAMB
Credit notes received from suppliers for goods returned to them are first recorded in the
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Answer: D. returns outwards journal
Explanation and discussion
Question 531· Source documents and books of original entry· WAEC
A receipt is issued as evidence of
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Answer: C. payment received
Explanation and discussion
Question 532· Source documents and books of original entry· WAEC
A debit note is sent by a buyer to
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Answer: C. inform the seller of goods returned or an overcharge
Explanation and discussion
Question 533· Source documents and books of original entry· JAMB
A bank paying-in slip is the source document for
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Answer: B. money deposited into the bank
Explanation and discussion
Question 534· Source documents and books of original entry· JAMB
The sales day book records
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Answer: B. credit sales of goods
Explanation and discussion
Question 535· Source documents and books of original entry· WAEC
A petty cash voucher supports
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Answer: D. small cash payments
Explanation and discussion
Question 536· Source documents and books of original entry· JAMB
A paying-in slip is used when
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Answer: D. cash or cheques are deposited in a bank
Explanation and discussion
Question 537· Source documents and books of original entry· JAMB
A debit note sent to a supplier for goods returned is the source document for the
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Answer: A. returns outwards journal
Explanation and discussion
Question 538· Source documents and books of original entry· WAEC
The source document for recording credit purchases is the
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Answer: C. invoice received
Explanation and discussion
Question 539· Source documents and books of original entry· WAEC
The source document for entries in the sales journal is the
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Answer: B. sales invoice
Explanation and discussion
Question 540· Source documents and books of original entry· JAMB
Which of the following is recorded in the general journal?
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Answer: B. Purchase of a delivery van on credit
Explanation and discussion

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JAMB and WAEC Accounts (Principles of Accounts) questions

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

The source document for recording a credit purchase of goods is the

Which of these is recorded in the purchases journal?

The purchases journal records

The sales day book is written up from

A cheque counterfoil is the source document for

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

The returns inwards book is written up from

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

Credit notes received from suppliers for goods returned to them are first recorded in the

A receipt is issued as evidence of

A debit note is sent by a buyer to

A bank paying-in slip is the source document for

The sales day book records

A petty cash voucher supports

A paying-in slip is used when

A debit note sent to a supplier for goods returned is the source document for the

The source document for recording credit purchases is the

The source document for entries in the sales journal is the

Which of the following is recorded in the general journal?