passwella.
Menu

WAEC Financial Accounting 2016 Question 3

Question 3

Double Entry and the Ledger

Which of the following are impersonal accounts? I. Investment II. Creditors III. Premises IV. Debtors V. Salaries

  1. A.I, III and IV.
  2. B.I, III and V.
  3. C.II and IV.
  4. D.III and V.
Show the answer and explanation

Answer: B (I, III and V.)

Explanation

Impersonal accounts are real (investment, premises) and nominal (salaries) accounts; creditors and debtors are personal.