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In manufacturing accounts, finance expenses are charged to the

Accounts - Principles of Accounts
JAMB 2012

In manufacturing accounts, finance expenses are charged to the

  • A. departmental account
  • B. trading acount
  • C. profit and loss account
  • D. balance sheet
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Correct Answer: Option C
Explanation

profit and loss account is an account in the books of an organization to which incomes and gains are credited and expenses and losses debited, so as to show the net profit or loss over a given period.


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