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WAEC Financial Accounting 2011 Question 49

Question 49

Depreciation

Provision for depreciation on delivery van is charged to

  1. A.trading account
  2. B.profit and loss account
  3. C.appropriation account
  4. D.manufacturing account
Show the answer and explanation

Answer: B (profit and loss account)

Explanation

A delivery van is used in selling and distribution, so its depreciation is a profit and loss expense.