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If a bad debt previously written off is subsequently repaid, the amount collected is recorded...

Accounts - Principles of Accounts
JAMB 1994
If a bad debt previously written off is subsequently repaid, the amount collected is recorded as an
  • A. income in the profit and loss account
  • B. income in the balance sheet
  • C. additional cash in the profit and loss account
  • D. expense in the balance sheet
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Correct Answer: Option A
Explanation
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free