Accounting JAMB

The following appears in trading account except?

A. sales
B. carriage outward
C. carriage inward
D. opening stock

Correct Answer:

Option B – carriage outward

Explanation

Carriage outward: it is the cost of transporting goods from the company to the buyer. it is on the debit side of the profit and loss account because it is an expenses incurred on distributing the goods to customer.

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