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WAEC Financial Accounting 1995 Question 8

Question 8

Double Entry and the Ledger

Which of the following is an example of Personal Accounts?

  1. A.Stock
  2. B.Fixture
  3. C.Equipment
  4. D.Rent
  5. E.Debtors.
Show the answer and explanation

Answer: E (Debtors.)

Explanation

Debtors are people who owe the business: personal accounts.