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WAEC Financial Accounting 2006 Question 36

Question 36

Final Accounts of a Sole Trader

Which of the following is charged to trading account?

  1. A.Discounts allowed
  2. B.Carriage outwards
  3. C.Salaries
  4. D.Carriage inwards.
Show the answer and explanation

Answer: D (Carriage inwards.)

Explanation

Carriage inwards is part of the cost of goods.