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WAEC Accounting 2015 Theory — Question 5

Question 5 of 13 from the West African Examinations Council (WAEC) Accounting 2015 Theory paper, with the correct answer and a full explanation.

2(c). Mention a class of account that would always show: (i) debit balance; (ii) credit balance.

Model answer

(i) An account that would always show a debit balance is an asset account (e.g. cash, debtors, fixed assets). (ii) An account that would always show a credit balance is a liability/capital account (e.g. capital, creditors, loans).

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