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WAEC Financial Accounting 2023 Question 19

Question 19

Manufacturing Accounts

Carriage inwards on raw materials is recorded in the

  1. A.manufacturing account.
  2. B.trading account.
  3. C.profit and loss account.
  4. D.balance sheet.
Show the answer and explanation

Answer: A (manufacturing account.)

Explanation

It is part of the cost of raw materials, so it goes in the manufacturing account.