WAEC Accounting Past Questions & Answers - Page 331

1,651.

A book that contains individual accounts of suppliers is the

A.

Purchase ledger

B.

General ledger

C.

Nominal ledger

D.

Sales ledger

Correct answer is A

A bought ledger is a system in accounting by which a business records and monitors its creditors. The purchase ledger contains the individual accounts of suppliers from whom the business has made purchases on credit.

 

1,652.

The source document used to make entries in the purchase day book is

A.

Debit note

B.

Credit note

C.

Invoice

D.

Receipt

Correct answer is C

An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer.