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OtisamLMS
Financial Accounting

Financial Accounting · Quick practice · answer shown after each question

Double entry and books of prime entry

Question 1 of 10

Question 1 of 10

Credit purchase of a motor van is first recorded in the

Question 2 of 10

Question 2 of 10

The book used to record the return of goods by customers is the

Question 3 of 10

Question 3 of 10

A discount allowed is debited to the discount allowed account and credited to

Question 4 of 10

Question 4 of 10

Cash sales of GH¢800 are recorded by

Question 5 of 10

Question 5 of 10

Goods worth GH¢500 taken by the owner for personal use are recorded by

Question 6 of 10

Question 6 of 10

Goods returned to a supplier are recorded in the

Question 7 of 10

Question 7 of 10

The owner withdraws GH¢500 cash for personal use. The entry is

Question 8 of 10

Question 8 of 10

Returns inwards are recorded in the

Question 9 of 10

Question 9 of 10

The owner takes goods for personal use. The entry is

Question 10 of 10

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.