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WAEC Accounting 2012 Objective — Question 49

Question 49 of 50 from the West African Examinations Council (WAEC) Accounting 2012 Objective paper, with the correct answer and a full explanation.

Which of the following is not an item in the profit and loss account?

A. DrawingsCorrect
B. Interest
C. Salaries
D. Bad debts

Explanation

Drawings are treated in the capital account of the owner.

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