GCE Accounting 2023 Objective — Question 26
Question 26 of 50 from the General Certificate of Education (GCE) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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In the final account of a limited liability company, debenture interest is recorded in the (a) trading account (b) profit and loss account (c) capital account (d) current account
- A. trading account
- B. profit and loss accountCorrect
- C. capital account
- D. current account
Explanation
Debenture interest is a finance cost of the company and is charged in the profit and loss account.
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