WAEC Accounting 2025 Theory — Question 3
Question 3 of 15 from the West African Examinations Council (WAEC) Accounting 2025 Theory paper, with the correct answer and a full explanation.
Advertisement
2(a) Three uses each of an invoice to the (i) Seller and (ii) Buyer
Model answer
Party | No. | Use of the invoice Seller | 1 | Reveals the details of the buyer Seller | 2 | Used to compute total sales for the period Seller | 3 | Enables the seller to know the eligible discount to give the buyer Buyer | 1 | Used to compute total purchases Buyer | 2 | Reveals the details of the seller Buyer | 3 | Useful for stock valuation
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.