Jamb Accounts - Principles of Accounts Questions - single column
Question 1:
One major advantage of ledger is that it
- A Is a book of original entry
- B Is only accessible to share holders during liquidation
- C Removes the need for preparing a balance sheet after each transaction
- D Can be used by any type of business
Question 2:
The ledger entries to be made if cash sales is banked is debit
- A Cash, credit sales
- B Sales, credit cash
- C Bank, credit cash
- D Bank, credit sales