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WAEC Financial Accounting 2017 Question 25

Question 25

Manufacturing Accounts

In a manufacturing enterprise depreciation of plant is treated in the

  1. A.Trading Account.
  2. B.Profit and Loss Account.
  3. C.Manufacturing Account.
  4. D.Appropriation Account.
Show the answer and explanation

Answer: C (Manufacturing Account.)

Explanation

Plant is used in the factory, so its depreciation is a factory overhead in the manufacturing account.