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Which of the following statements is not true about profit and loss account of a...

Agricultural Science
WAEC 2007
Which of the following statements is not true about profit and loss account of a farm?
  • A. it is prepared at the end of business period usually a year
  • B. all expenses and purchases are listed on the right-hand side
  • C. all expenses and purchases are listed on the left-hand side
  • D. all receipts and sales are listed on the right-hand side
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Correct Answer: Option B
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