WAEC Accounting 2015 Objective — Question 11
Question 11 of 50 from the West African Examinations Council (WAEC) Accounting 2015 Objective paper, with the correct answer and a full explanation.
Advertisement
Discount Received Account is a
- A. real account
- B. personal account
- C. nominal accountCorrect
- D. profit and loss account
Explanation
Discount received is an income, and income/expense accounts are nominal accounts, while real accounts record assets/investments.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.