WAEC Accounting 2014 Objective — Question 45
Question 45 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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Which of the following items is not treated in the Profit and Loss Account?
- A. Office expenses
- B. Salaries and allowances
- C. Carriage inwardsCorrect
- D. discounts allowed
Explanation
Carriage inward is treated in the trading account (added to the cost of purchases), not the profit and loss account.
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