WAEC Accounting 2013 Objective — Question 23
Question 23 of 50 from the West African Examinations Council (WAEC) Accounting 2013 Objective paper, with the correct answer and a full explanation.
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Cash receipts and payments involving discounts are entered in a
- A. three-column cash bookCorrect
- B. two-column cash book
- C. analytical cash book
- D. petty cash book
Explanation
The three-column cash book has the discount column. Thus, discounts are recorded in the three-column cash book.
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