Free account: track your progress — Sign up free

WAEC Accounting 2017 Objective — Question 50

Question 50 of 50 from the West African Examinations Council (WAEC) Accounting 2017 Objective paper, with the correct answer and a full explanation.

Advertisement

50. An amount set aside to meet expenses whose value is not certain is a

  • A. A. reserve
  • B. B. liability
  • C. C. provisionCorrect
  • D. D. prepayment

Explanation

Provision is an amount set aside as provision for bad debts/doubtful debts etc.

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.

Create free account
More questions from Accounting 2017 ObjectiveMore Accounting past papers