Question on: WAEC Accounting - 2012
Which of the following is not prepared by a partnership?
A
trading account
B
profit and loss account
C
income and expenditure account
D
profit and loss appropriation account
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Correct Option: C
The income and expenditure account is an account prepared by non-trading concerns to ascertain surplus or deficit of income over expenditures for a particular period. Partneship business is a profit oriented business
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