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WAEC Financial Accounting 2025 Question 22

Question 22

Not-for-Profit Organisations

An item debited to the income and expenditure account is

  1. A.rent paid
  2. B.life membership fees
  3. C.profit on bar
  4. D.donations received for club's party
Show the answer and explanation

Answer: A (rent paid)

Explanation

The debit side shows expenses such as rent paid; the others are income or capital receipts.