passwella.
Menu

WAEC Financial Accounting 1996 Question 39

Question 39

Final Accounts of a Sole Trader

Which of the following does not belong to the group?

  1. A.Furniture and fittings
  2. B.Plant and Machinery
  3. C.Building
  4. D.Debtors
  5. E.General reserve.
Show the answer and explanation

Answer: E (General reserve.)

Explanation

Furniture, plant, building and debtors are assets; general reserve is part of capital (a liability side item).