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WAEC Accounting 2025 Theory — Question 1

Question 1 of 15 from the West African Examinations Council (WAEC) Accounting 2025 Theory paper, with the correct answer and a full explanation.

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1(a) Match items in Young Stars Social Club's account with their equivalent in a Profit Making Organization

Model answer

Young Stars Social Club | Profit Making Organization Surplus | Net profit Accumulated fund | Capital Receipts and payment account | Cash book Deficit | Loss Income and expenditure account | Profit and loss account

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