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WAEC Financial Accounting 2024 Question 23

Question 23

Double Entry and the Ledger

An account in the real ledger is

  1. A.sales account.
  2. B.insurance account.
  3. C.discount received account.
  4. D.machinery account.
Show the answer and explanation

Answer: D (machinery account.)

Explanation

Real accounts are for assets such as machinery; the others are nominal accounts.