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  5. When precision for d...

When precision for depreciation account is maintained, the annual charge for depreciation shall be

Accounts - Principles of Accounts
WAEC 1990
When precision for depreciation account is maintained, the annual charge for depreciation shall be
  • A. debited to the provision account and credited to profit and loss account
  • B. debited to the asset account and credited to profit and loss account
  • C. debited to profit and loss account and credited provision account
  • D. debited to the asset account and credited to the provisio account
  • E. debiited to theprovisiom account and credited to the asser account
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Correct Answer: Option C
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