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A debit entry in a fixed asset account represents 

Accounts - Principles of Accounts
WAEC 2020

A debit entry in a fixed asset account represents 

  • A. an increase in the fixed asset account.
  • B. a decrease in the fixed asset account
  • C. a profit on disposal of the fixed asset
  • D. a loss on disposal of the fixed asset
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Correct Answer: Option A
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts