WAEC Accounting 2014 Objective — Question 4
Question 4 of 50 from the West African Examinations Council (WAEC) Accounting 2014 Objective paper, with the correct answer and a full explanation.
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An example of a credit entry in a profit and loss account is
- A. carriage inwards
- B. carriage outwards
- C. discounts allowed
- D. discounts receivedCorrect
Explanation
A credit entry in the profit and loss account means income to the organisation, such as discount received.
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