WAEC Accounting 2022 Objective — Question 35
Question 35 of 50 from the West African Examinations Council (WAEC) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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An item that would be classified as preliminary expenses in a company's account is
- A. formation expensesCorrect
- B. general expenses
- C. administrative expenses
- D. distribution expenses
Explanation
Preliminary expenses are the costs incurred in forming (incorporating) a company — i.e. formation expenses.
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