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WAEC Financial Accounting 2021 Question 16

Question 16

Manufacturing Accounts

The type of stock recorded in the trading account of a manufacturing business is

  1. A.raw materials
  2. B.work-in-progress
  3. C.consumables.
  4. D.finished goods.
Show the answer and explanation

Answer: D (finished goods.)

Explanation

Raw materials and work-in-progress go in the manufacturing account; the trading account holds finished goods.