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In manufacturing account, depreciation of office machine is charged to

Accounts - Principles of Accounts
JAMB 2017
In manufacturing account, depreciation of office machine is charged to
  • A. trading account
  • B. appropriation account
  • C. balance street
  • D. profit and loss account
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Correct Answer: Option D
Explanation
profit and loss account: the depreciation of the office machine is considered as part of administrative expense which must be charged against the profit of the company
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789