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

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

   The purchases returns book is written up from

   • Ainvoices sent
   • Bcredit notes received from suppliers
   • Creceipts
   • Dpayslips

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   Explanation and discussion

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

   The book of original entry used to record goods bought on credit is the

   • Asales journal
   • Bgeneral journal
   • Ccash book
   • Dpurchases journal

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   Explanation and discussion

3. Question 3· 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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4. Question 4· Source documents and books of original entry· JAMB

   An invoice received from a supplier for goods bought on credit is entered in the

   • Areturns inwards journal
   • Bsales journal
   • Cpurchases journal
   • Dcash book

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   Explanation and discussion

5. Question 5· 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

6. Question 6· 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

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

   The source document for entries in the returns inwards journal is the

   • Ainvoice received
   • Bdebit note received from the supplier
   • Ccredit note sent to the customer
   • Dreceipt issued

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   Explanation and discussion

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

   Which book of original entry records cash and cheque transactions?

   • Athe general journal
   • Bthe sales journal
   • Cthe purchases journal
   • Dthe cash book

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   Explanation and discussion

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

   The source document for recording a cash sale is the

   • Ainvoice
   • Breceipt
   • Ccredit note
   • Ddebit note

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   Explanation and discussion

10. Question 10· 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

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

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

    • Apaying-in slip
    • Breceipt issued
    • Ccredit note sent
    • Dinvoice received from the supplier

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    Explanation and discussion

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

    Which of these is recorded in the purchases journal?

    • AA motor van bought on credit
    • BGoods bought for cash
    • CGoods for resale bought on credit
    • DGoods returned to suppliers

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    Explanation and discussion

13. Question 13· 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

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

    The sales day book is written up from

    • Areceipts issued
    • Bcredit notes received
    • Ccheque stubs
    • Dcopies of invoices sent to customers

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    Explanation and discussion

15. Question 15· 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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16. Question 16· 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

17. Question 17· 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

18. Question 18· 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

19. Question 19· Source documents and books of original entry· JAMB

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

    • Apurchases journal
    • Breturns inwards journal
    • Csales journal
    • Dreturns outwards journal

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20. Question 20· 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