passwella.
Menu

WAEC Financial Accounting 1999 Question 11

Question 11

Accruals and Prepayments

Deferred charges are also known as

  1. A.prepayments
  2. B.accrued expenses
  3. C.accruals
  4. D.deferred income.
Show the answer and explanation

Answer: A (prepayments)

Explanation

A deferred charge is an expense paid now for a later period, i.e. a prepayment.