passwella.
Menu

WAEC Financial Accounting 1993 Question 38

Question 38

Capital and Revenue Expenditure

Which of the following is a Revenue Income?

  1. A.The sale proceeds of an old table
  2. B.The sale proceeds of shares
  3. C.Loan refund
  4. D.Debt recovered
  5. E.The sale proceeds of an old typewriter.
Show the answer and explanation

Answer: D (Debt recovered)

Explanation

A bad debt recovered is ordinary income; the others are capital receipts.