WAEC Accounting 2019 Objective — Question 34
Question 34 of 50 from the West African Examinations Council (WAEC) Accounting 2019 Objective paper, with the correct answer and a full explanation.
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Interim dividend paid in a year is
- A. debited to the Income Surplus Account/Profit and Loss Appropriation AccountCorrect
- B. credited to the Income Surplus Account/Profit and Loss Appropriation Account
- C. debited to the Profit and Loss Account
- D. credited to the Profit and Loss Account
Explanation
Interim dividend is debited to the profit and loss appropriation account of the company.
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