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WAEC Financial Accounting 2015 Question 7

Question 7

Double Entry and the Ledger

Which of the following is a real account?

  1. A.Plant account.
  2. B.Salaries account.
  3. C.Creditors account.
  4. D.Trading account.
Show the answer and explanation

Answer: A (Plant account.)

Explanation

Real accounts record property (assets) such as plant; salaries is nominal and creditors is personal.