WAEC Accounting 2021 Objective — Question 45
Question 45 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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Accounting concepts are rules of accounting which are to be
- A. taught in all accounting classes
- B. implemented by all professional bodies
- C. followed in the preparation of financial statementsCorrect
- D. applied in correction of business errors
Explanation
Accounting concepts are rules used in preparing the financial statements of businesses.
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