JAMB Accounting 2022 Objective — Question 6

Question 6 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.

6. Cost of installing a fixed asset is treated as

A. (A) wages and salaries
B. (B) installation cost account
C. (C) cost of the assetCorrect
D. (D) miscellaneous expenses

Explanation

The cost of installing any asset forms part of the cost of that asset, so it is debited to the asset account.

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