WAEC Book Keeping 2023 Theory — Question 4
Question 4 of 14 from the West African Examinations Council (WAEC) Book Keeping 2023 Theory paper, with the correct answer and a full explanation.
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Section A - 2(b) Classify the following items into Personal, Real and Nominal Accounts: (i) building; (ii) debtors; (iii) commission received; (iv) stock; (v) machinery; (vi) rent received; (vii) insurance; (viii) creditors; (ix) lighting; (x) advertising; (xi) cash; (xii) furniture and fittings.
Model answer
Personal Accounts: debtors, creditors Real Accounts: building, stock, machinery, cash, furniture and fittings Nominal Accounts: commission received, rent received, insurance, lighting, advertising
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