WAEC Accounting 2013 Objective — Question 46
Question 46 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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At the end of a trading period, cost of goods sold is debited to the trading while cost of services is debited to the
- A. balance sheet
- B. manufacturing account
- C. trading account
- D. profit and loss accountCorrect
Explanation
The cost of service involves all costs incurred to ensure that the sales is effective; it is debited to the profit and loss account.
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