Which of the following is charged to trading account?
FINANCIAL
JAMB 2023
Which of the following is charged to trading account?
- A. rent
- B. discount allowed
- C. carriage inwards
- D. carriage outwards
Correct Answer: C. carriage inwards
Explanation
Carriage inwards is the cost of transportation charged on goods purchased. It must be added to the goods purchased, hence it is debited to trading account.
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