WAEC Accounting 2013 Objective — Question 50
Question 50 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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A trading account is prepared to disclose the
- A. net profit or loss for the year
- B. gross profit or loss for the yearCorrect
- C. accumulated fund for the year
- D. gross profit on manufacturing
Explanation
A trading account is the account that is prepared to ascertain gross profit or loss for the year.
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