passwella.
Menu

WAEC Financial Accounting 2011 Question 47

Question 47

Public Sector Accounting

Which of the following is not used in Public Sector Accounting?

  1. A.Cash Book
  2. B.Trial Balance
  3. C.Profit and Loss Account
  4. D.Bank Reconciliation Statement
Show the answer and explanation

Answer: C (Profit and Loss Account)

Explanation

Government does not trade for profit, so it prepares no profit and loss account.