WAEC Accounting 2023 Objective — Question 41

Question 41 of 50 from the West African Examinations Council (WAEC) Accounting 2023 Objective paper, with the correct answer and a full explanation.

(Cash book of Ibusah, February 2019: Balance b/f 200,000; Commission received 180,000; Receipts from Ojah 98,300; Electricity bill 40,000; Rent 73,400; Drawings 28,600; Insurance 12,800.) The total income for the month is

A. D 306,900.
B. D 278,300.Correct
C. D 180,000.
D. D 154,800.

Explanation

Total income = Commission received (180,000) + Receipts from Ojah (98,300) = D278,300 (excluding the opening balance b/f, which is not income).

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