WAEC Accounting 2017 Objective — Question 31
Question 31 of 50 from the West African Examinations Council (WAEC) Accounting 2017 Objective paper, with the correct answer and a full explanation.
Advertisement
31. Donations to a club are
- A. A. credited to the Income and Expenditure AccountCorrect
- B. B. credited to the Receipts and Payments Account
- C. C. debited to the Income and Expenditure Account
- D. D. debited to Donations Account
Explanation
Donations to the club are income to the club. It is treated thus: Dr: Receipt and payment a/c; Cr: Income and expenditure a/c.
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.