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WAEC Financial Accounting 2026 Question 14

Question 14

Final Accounts of a Sole Trader

Carriage on sales is charged to

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

Answer: C (profit and loss account)

Explanation

Carriage on sales (carriage outwards) is a selling expense, so it goes to the profit and loss account.