WAEC Agricultural Science 2007 Question 59

Which of the following statements is not true about the profit and loss account of a farm?

1. A.It is prepared at the end of business period usually a year
2. B.All expenses and purchases are listed on the right-hand side
3. C.All expenses and purchases are listed on the left-hand side
4. D.All receipts and sales are listed on the right-hand side.