passwella.
Menu

WAEC Financial Accounting 1999 Question 23

Question 23

Company Accounts

Company tax paid is debited to

  1. A.Profit and Loss Appropriation Account
  2. B.Manufacturing Account
  3. C.Profit and Loss Account
  4. D.Trading Account.
Show the answer and explanation

Answer: A (Profit and Loss Appropriation Account)

Explanation

In this syllabus company tax is treated as an appropriation of the year's profit.