WAEC Accounting 2012 Objective — Question 13
Question 13 of 50 from the West African Examinations Council (WAEC) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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Capital receipt is collected
- A. on sales of motor vehicleCorrect
- B. on sales of stock in trade
- C. from trade debtors
- D. from trading activities
Explanation
Capital receipts are income that does not re-occur every time, e.g. proceeds from the sale of a fixed asset like a motor vehicle.
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