WAEC Accounting 2023 Objective — Question 5
Question 5 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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The balance c/d on trade creditors will be recorded in the balance sheet as
- A. current asset.
- B. fixed asset.
- C. long-term liability.
- D. short-term liability.Correct
Explanation
Trade creditors are short-term liabilities, so their balance is posted to current (short-term) liabilities in the balance sheet.
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