NECO Accounting 2022 Objective — Question 13
Question 13 of 50 from the National Examinations Council (NECO) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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Items shown in the balance sheet as an asset includes
- A. credit balance on the capital account
- B. debit balance on a customer's accountCorrect
- C. credit balance on a supplier's account
- D. debit balance on the drawings account only
Explanation
A debit balance on a customer's account signifies a debtor, which is posted as a current asset on the balance sheet.
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