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WAEC Financial Accounting 1995 Question 40

Question 40

Manufacturing Accounts

Which of the following does not relate to a manufacturing concern?

  1. A.Balance Sheet
  2. B.Profit and Loss Account
  3. C.Ledger Account
  4. D.Cash book
  5. E.Income and Expenditure Account.
Show the answer and explanation

Answer: E (Income and Expenditure Account.)

Explanation

An income and expenditure account is for non-profit organisations.