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Which of the following items is found in the profit and loss account of a...

Accounts - Principles of Accounts
WAEC 2023

Which of the following items is found in the profit and loss account of a company?

  • A. Proposed dividends
  • B. Transfer to general reserves
  • C. Director's remuneration
  • D. Proceeds from issue of shares
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Correct Answer: Option A
Explanation

Proposed dividends (ordinary) is shown on the debit side of the profit and loss appropriation account of a company.

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