NECO Accounting 2023 Objective — Question 19
Question 19 of 50 from the National Examinations Council (NECO) Accounting 2023 Objective paper, with the correct answer and a full explanation.
Advertisement
Carriage inwards on raw materials is recorded in the (a) manufacturing account (b) trading account (c) profit and loss account (d) balance sheet
- A. manufacturing accountCorrect
- B. trading account
- C. profit and loss account
- D. balance sheet
Explanation
Carriage inwards on raw materials forms part of the cost of raw materials and is recorded/debited in the manufacturing account.
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.