WAEC Accounting 2018 Objective — Question 16
Question 16 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.
Advertisement
Sales and Purchases ledgers are used in a business to keep records of
- A. the owner's capital and cash transactions
- B. accounts of individual customers and suppliersCorrect
- C. current assets and fixed assets
- D. current liabilities and long-term liabilities
Explanation
The sales and purchases ledgers hold the individual personal accounts of customers (debtors) and suppliers (creditors) respectively.
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.