The price paid for the purchase of a business is

Accounts - Principles of Accounts

WAEC 2002

A. credited to cash accounted to cash account and debited to vendor's account
B. debited to cash account and credited to Vendor's Account
C. debited to business purchase Account and credited to Asset Account
D. credited to cash Account and debited to Asset Account

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Correct Answer: Option A

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The price paid for the purchase of a business is

Correct Answer: Option A

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