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Which of the following items will be recorded on the credit side of a club's...

Accounts - Principles of Accounts
WAEC 2024

Which of the following items will be recorded on the credit side of a club's income and expenditure account? 

  • A. Donation to children's home
  • B. Donations received
  • C. Honoraria paid to guest speakers  
  • D. Meeting expenses.
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Correct Answer: Option B
Explanation

Donations received is an income to the organization. All incomes appear on the credit side of income and expenditure  
account.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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