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WAEC Financial Accounting 2022 Question 42

Question 42

Trial Balance

One of the items on the credit column of a trial balance is

  1. A.carriage inwards
  2. B.carriage outwards
  3. C.returns outwards
  4. D.returns inwards
Show the answer and explanation

Answer: C (returns outwards)

Explanation

Returns outwards reduce purchases and have a credit balance.