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JAMB Accounting 2010 Objective — Question 45

Question 45 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.

45. The Directors' salaries paid are items of A. current liabilities B. profit and loss account C. trading account D. current assets

A. current liabilities
B. profit and loss accountCorrect
C. trading account
D. current assets

Explanation

Directors' salaries is an expense debited to the profit and loss (P&L) account.

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