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JAMB Principles of Accounts 2010 Question 45

Question 45

Company Accounts

The Directors' salaries paid are items of

  1. A.current liabilities
  2. B.profit and loss account
  3. C.trading account
  4. D.current assets.
Show the answer and explanation

Answer: B (profit and loss account)

Explanation

Directors' salaries are an expense charged in the profit and loss account.