WAEC Accounting Past Questions & Answers - Page 254

1,266.

Which of the following is not contained in a journal? To record

A.

small and repetive cash disbursemens

B.

purchase and sale of fixed assets on credit

C.

writing off bad debts

D.

debtors and creditors

Correct answer is C

No explanation has been provided for this answer.

1,267.

An allowance given to a customer by a supplier for prompt payment is

A.

Trade discount

B.

Discount received

C.

Cash discount

D.

Cash rebate

Correct answer is C

No explanation has been provided for this answer.

1,268.

The systematic recording of business transactions is

A.

auditing

B.

book-keeping

C.

debiting

D.

crediting

Correct answer is B

No explanation has been provided for this answer.