WAEC Accounting 2023 Objective — Question 12
Question 12 of 50 from the West African Examinations Council (WAEC) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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Discount allowed is shown in financial statements as
- A. an expense.Correct
- B. an income.
- C. an asset.
- D. a liability.
Explanation
Discount allowed is an expense incurred by the business and is shown in the profit and loss account.
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