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WAEC Financial Accounting 2006 Question 16

Question 16

Company Accounts

In company accounts, profit after tax is shared in the

  1. A.appropriation account
  2. B.revaluation account
  3. C.current account
  4. D.realization account.
Show the answer and explanation

Answer: A (appropriation account)

Explanation

Profit after tax is distributed in the appropriation account.