WAEC Accounting 2022 Objective — Question 13
Question 13 of 50 from the West African Examinations Council (WAEC) Accounting 2022 Objective paper, with the correct answer and a full explanation.
Advertisement
Items shown in the balance sheet as assets include
- A. credit balance on a supplier's account
- B. credit balance on the capital account
- C. debit balance on a customer's accountCorrect
- D. debit balance on drawings account
Explanation
A debit balance on a customer's account indicates the customer owes the business money — the customer is a debtor, which is an asset.
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.