WAEC Accounting 2024 Objective — Question 47
Question 47 of 50 from the West African Examinations Council (WAEC) Accounting 2024 Objective paper, with the correct answer and a full explanation.
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Which of the following items will be recorded on the credit side of a club's income and expenditure account?
- A. Donation to children's home
- B. Donations receivedCorrect
- C. Honoraria paid to guest speakers
- D. Meeting expenses
Explanation
Donations received are income to the club and therefore appear on the credit (income) side of the income and expenditure account.
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