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WAEC Financial Accounting 2008 Question 20

Question 20

Company Accounts

Which of the following is not an item in the appropriation account of a company?

  1. A.General reserve
  2. B.Company tax
  3. C.Debenture interest
  4. D.Goodwill written off.
Show the answer and explanation

Answer: C (Debenture interest)

Explanation

Debenture interest is an expense in the profit and loss account.