WAEC Financial Accounting 2006 Question 10

Question 10

Double Entry and the Ledger

Which of the following is not a revenue account?

  1. A.Sales
  2. B.Purchases
  3. C.Discount received
  4. D.Interest received
Show the answer and explanation

Answer: B (Purchases)

Explanation

Purchases is an expense; the others are income (revenue) accounts.