Financial Accounting · Quick practice · answer shown after each question
Question 1 of 10
Credit purchase of a motor van is first recorded in the
Question 2 of 10
The owner withdraws GH¢500 cash for personal use. The entry is
Question 3 of 10
Trade discount is
Question 4 of 10
A trade discount is
Question 5 of 10
Discount allowed to customers is
Question 6 of 10
When goods are sold on credit to Kofi, the entry is
Question 7 of 10
The book used to record the return of goods by customers is the
Question 8 of 10
The petty cash book is used for
Question 9 of 10
Cash paid for rent is recorded by
Question 10 of 10
Under the imprest system, the petty cashier is
Questions written by OtisamLMS in the style of the WASSCE. They are not WAEC past questions.